inflation targeter early in this period but began to pay less attention to inflation after 2009. Loss of the strong nominal …

inflation bias as monetary policy tries to exploit nominal wage contracts to address labour-market distortions Although an … inflation target eliminates this inflation bias, it creates a conflict between monetary policy and discretionary fiscal policy …

, Australia and New Zealand) and others that have only targeted inflation at times (the US, Japan, the Euro Area and Switzerland … official policy rates and those implied by three types of Taylor rules in both inflation targeting countries (the UK, Canada …

aiming for two per cent inflation over the medium term", with "symmetric commitment" to this target. "Symmetry means that the … therefore analyse this policy strategy through a model of inflation target zone, with a central value and symmetric upper and … lower bounds on inflation, within which the central bank may decide not to intervene, provided inflation is expected to …

The paper analyses the reasons for Japan's persistently low inflation since the bursting of the Japanese bubble economy … (low inflation conundrum). It is shown that Japan experienced a structural break from a high-growth period with relatively … prices and goods with prices controlled by the government we show that inflation in Japan has been kept low by mainly three …