target inflation would undermine the rationale for central bank independence and constitute an additional movement away from …

Central banks analyze a wide range of data to obtain better measures of underlying inflationary pressures. Factor …

Inflation targeting has been adopted by many central banks, but not by the U.S. Federal Reserve. Using an estimated New …

The author presents an analytical framework for the formulation of a central bank policy rule and examines some … conceptual issues relating to the current debate over the effectiveness of such rules. In discussing the move by many central … banks to adopt a price-level or inflation rate target--the basis for one type of rule--he suggests that central banks are …