The paper aims at explaining why the Bank of Japan has not adopted inflation targeting, despite calls for such a policy … give clues to changing reasons against inflation targeting. Inflation targeting was not adopted in Japan in the early years … specific number for an appropriate inflation rate. A Bank of Japan study, completed in October 2000, did not give any clear …

of expectations, using either price level or inflation targeting, because the zero lower bound on interest rates means … history dependent strategy, associated with inflation targeting. However, because actions speak louder than words, management …

In the summer of 2010, the Federal Reserve's and the Swedish Riksbank's inflation forecasts were below the former …

. Specifically, we estimate a series of simple models to measure the impact of inflation targeting on the dispersion of private … sector forecasts of inflation. Using a panel data set that includes 15 countries over 20 years we find no convincing evidence … that adopting an inflation targeting regime leads to a reduction in the dispersion of private sector forecasts of inflation …