supplies, outputs, inflation rates and interest rates. Nonetheless, it has been well documented that such variables little help …

This paper studies the short run correlation of inflation and money growth. We study whether a model of learning does … better or worse than a model of rational expectations, and we focus our study on countries of high inflation. We take the …

This paper presents experimental evidence from a monetary sticky price economy in which output and inflation depend on … expected future inflation. With rational inflation expectations, the economy does not generate persistent deviations of output … and inflation in response to a monetary shock. In the experimental sessions, however, output and inflation display …

Price level targeting has been proposed as an alternative to inflation targeting that may confer benefits if a central … bank sets policy under discretion, even if societyu0092s loss function is specified in terms of inflation (instead of price …-of-thumb to form inflation expectations, or does not fully understand the nature of the target, price level targeting may in fact …