the optimal one, which appear to be most robust to alternative scenarios of inflation and deflation. JEL classification …

the optimal one, which appear to be most robust to alternative scenarios of inflation and deflation. …

-term inflation objectives. In the long term, monetary policy is most effective in achieving its objectives when the inflation target … is changed in response to the new economy and when the monetary authority attempts to stabilize both inflation and output … for in changing the assessment of the potential growth rate and the inflation target. …

The inflation and the real yield component deduced from inflation-linked and nominal bond prices are adversely affected … markets gives valuable new insight into the long-debated relationship between inflation and growth prospects …