Japanese monetary base expands faster than the US monetary base. An impact of monetary base expansion on the inflation …

This paper outlines important lessons for monetary policy. In particular, the role of inflation targeting, which was … financial stability. Finally, this paper makes a case against increasing the central banks' inflation target. …

This paper provides a theoretical framework for a thesis that the transition to the inflation targeting regime, either … empirical part we employed VECM tests to show that the money supply was exogenous before the implicit adoption of inflation …

authorities adopt an flexible inflation-targeting regime in an environment with a liberalised capital account and flexible … exchange rates. In this respect, inflation targeting is an essential part of a three-part policy (or trinity) that also … includes flexible exchange rate and capital mobility. We show that a low degree of inflation targeting flexibility (i …

inhabited by consumers, firms, a Cournotian monopolistically compet- itive banking system, besides, an inflation … effect of a lower inflation target on growth is ambiguous, with the ultimate effect depending on the initial levels of growth …

disagreement can be reconciled within the framework of flexible inflation targeting, defined as a commitment to a targeting rule …

This paper discusses the role of foreign exchange interventions in the inflation-targeting regime, focusing on the … Czech experience since 1998. It proposes criteria for assessing whether the interventions are consistent with the inflation … procedures guiding the interest rate decisions under the inflation targeting regime, which may occasionally create tensions in …

The mainstream inflation-targeting literature makes the strong assumption that the central bank can exactly target the … interest rate which affects investment and consumption decisions and hence the money supply plays no role in the monetary … policy strategy. This assumption is equivalent to admitting the perfect credibility of inflation target announced by the …

Inflation scenarios in forecasts of the Central Bank of Iceland (CBI) appear to converge to the inflation target (2 …-model, containing equations for inflation, inflation expectations, wages, exchange rate and the policy interest rate. We find that rapid … convergence toward the inflation target is a property of the QMM when a Taylor-rule is included in the model. Underlying is an …