been based on discretionary targeting of broad money without any clear target to anchor inflation expectations. This paper … are required to strengthen the ability of the CBY in achieving low and stable rates of inflation over the medium term …

This paper extends a small linear model of the Israeli economy to allow for nonlinearities in the inflation …

inflation is not assured, and changes to the monetary policy framework should be considered. This paper reviews the benefits as … well as the constraints of an inflation targeting framework and the necessary preconditions--both in terms of the … institutional infrastructure and the appropriate inflation target--for its successful implementation, including the ability to …

adjustment rule, under alternative inflation targets, in terms of output losses in a macroeconomic model, using European Union … credibility, and that a positive inflation target, as opposed to zero inflation, leads to higher and less volatile output. These … countries supports country-specific flexible inflation targeting …

This paper proposes a new method of estimating the Taylor rule with a time-varying implicit inflation target and a time …-varying natural rate of interest. The inflation target and the natural rate are modeled as random walks and are estimated using …

context of its efforts to maintain low inflation. However, with a persistently high public sector deficit, real interest rates … policy mix for achieving low variance for inflation and output through the prism of an empirical macroeconomic model. The … simulation results suggest that a monetary policy mix that takes into account the impact of policy on both inflation and output …

This paper outlines important lessons for monetary policy. In particular, the role of inflation targeting, which was … financial stability. Finally, this paper makes a case against increasing the central banks’ inflation target …

Norway adopted an inflation targeting framework in early 2001, thus concluding its gradual but consistent move toward … countries that had adopted inflation targeting frameworks prior to Norway. Norway''s role as a commodity exporter exposed to …

In the near future, Romania will introduce inflation targeting and fully liberalize its capital account. This paper … central bank loss function containing the deviations of inflation, output, and the real exchange rate from their equilibrium …