this phenomenon, which has been observed for several other countries, may be due to a change in the behaviour of inflation …. Specifically, moving from a high to a low-inflation environment has reduced the expected persistence of cost changes and, by … policy has responded more aggressively to inflation deviations over the low pass-through period relative to the high pass …

rule that stabilizes output and inflation in an environment where endogenous boom-bust cycles in house prices can occur … borrowers are occasionally over-optimistic, the central bank should be less responsive to inflation, more responsive to output …-bust cycles in house prices, but prolongs inflation target horizons due to weak policy reactions to inflation fluctuations after …

key feature that accounts for the observed persistence in output and inflation. Kryvtsov and Midrigan (2010a,b) reassess …

Various papers have suggested that Price-Level targeting is a welfare improving policy relative to Inflation targeting …

Inflation-targeting central banks around the world often state their inflation objectives with regard to the consumer … sector suggests that CPI inflation is not always the best choice from a social welfare perspective. We revisit this issue in … multiple dimensions. With key parameters of the model estimated using data from an inflation targeting economy, namely Canada …