resilient to external shocks. Enhancing the credibility of the inflation target would provide the monetary authorities with more …. Améliorer la crédibilité de l’objectif d’inflation donnerait aux autorités monétaires plus de latitude pour réagir aux chocs …

the first case the “standard” or canonical inflation targeting model that can hardly be the most appropriate for the …

left, and can therefore be contractionary. It has ambiguous effects on expected inflation, on the volatility of output and … inflation, and on expected welfare, relative to an equivalent symmetric indexation. Optimal symmetric inflation however always …

implication for economic policy has been the implementation of inflation targeting (IT). This paper critically raises a number of …

, however, is the incompleteness of its reform process: the boom-bust nature of its growth, persistently high inflation, delays …, to reduce inflation to single digits by the end of 2002. Since then, though, Turkey has experienced two financial crises … and redesigned its stabilization program to bring inflation down more gradually. This collection analyzes the nature of …