This paper takes up the issue of the flexibility of inflation targeting regimes, with the specific goal of determining whether the monetary policy of the Bank of England, which has a formal inflation target, has been any less flexible than that of the Federal Reserve, which does not have such a...

We evaluate the degree of gradualism and inaction in UK monetary policy over the Monetary Policy Committee (MPC) period (1997-2007) at the quarterly and the monthly frequency. After accounting for misspecification in standard Taylor rules, we find little evidence for gradualism. A measure of...

Das Ziel des Forschungsvorhabens besteht zum einen darin, die Bedeutungskonstitution zu untersuchen. Zum anderen soll gezeigt werden, dass nationale und internationale monetäre Institutionen in ihren Kommunikationsformen nicht einem linear-kausalen Kommunikationsmodell folgen. Der neue...