low long-run inflation objective, operational independence for the People''s Bank of China (PBC) with formal strategic … interest rate fluctuations). We argue that anchoring monetary policy with an explicit inflation objective would be the most … reliable way for the PBC to tie down inflation expectations, and thereby enable monetary policy to make the best contribution …

This is the third chapter of a forthcoming monograph entitled ""On Implementing Full-Fledged Inflation …-Targeting Regimes: Saying What You Do and Doing What You Say."" It examines a number of elements in the design of an inflation …-targeting framework. These include the definition of the target variable, the relevance of core measures of inflation, and the advantages …

In recent years, an inflation targeting framework for monetary policy has been adopted in a number of industrial … the target, accountability and the role of inflation forecasts. The economic performance of the inflation targeting …

This paper provides some practical advice on establishing initial conditions in support of an inflation …-targeting monetary framework. These conditions are divided into four areas: a mandate in support of an inflation objective and …

The experience of full-fledged inflation targeting (FFIT) countries is used here to shed light on the costs and …

with different degrees of liability dollarization. The paper answers the question of how efficient it is to use inflation …

Under a flexible inflation targeting regime, should policymakers avoid any reaction to movements in the foreign … exchange market? Using data for six advanced open economies explicitly targeting inflation, the paper examines empirically … monetary policy responses in inflation-targeting, open economies have changed significantly, as the institutional framework for …

This paper surveys decision-making roles of governing bodies of central banks that have formally adopted inflation … primary monetary policy objective but seldom require an explicit numerical inflation target. Governments are frequently …

Many central banks target an inflation rate near two percent. This essay argues that policymakers would do better to … target four percent inflation. A four percent target would ease the constraints on monetary policy arising from the zero … cost, because four percent inflation does not harm an economy significantly …

frameworks and some have implemented or are moving towards inflation targeting (IT) regimes. Strengthening the monetary policy …