-level targeting and compare it to inflation targeting. Domain of attraction of the targeted steady state gives a robustness criterion …

In this paper we consider inflation and government debt dynamics when monetary policy employs a global interest rate … interest rate rules are known to imply the existence of a second, low inflation steady state, below the target inflation rate … this low inflation steady state and is driven to an even lower inflation floor which, in turn, is supported by a switch to …

either price-level or nominal GDP targeting and compare these regimes to inflation targeting. These interest-rate rules are … domain of attraction of the targeted steady state, volatility of inflation and output and sensitivity to the speed of …

This paper considers the performance of average inflation targeting (AIT) policy in a New Keynesian model with adaptive … inflation targeting policy. Policymakers can improve outcomes under AIT by (i) targeting a discounted average of inflation, or …

inflation-targeting steady state. Large scale asset purchases (APP) have been used as a tool for easing of monetary policy in …

This paper considers the performance of average inflation targeting (AIT) policy in a New Keynesian model with adaptive … inflation targeting policy. Policymakers can improve outcomes under AIT by (i) targeting a discounted average of inflation, or …

This paper considers the performance of average inflation targeting (AIT) policy when there is imperfect knowledge … steady state with interest rates at the zero lower bound, AIT does not outperform standard inflation targeting policy … responds aggressively to below-target average inflation …

bound on inflation. In contrast, policies geared toward ensuring an output lower bound are insufficient for avoiding …

In this paper we consider inflation and government debt dynamics when monetary policy employs a global interest rate … interest rate rules are known to imply the existence of a second, low inflation steady state, below the target inflation rate … inflation steady state and is driven to an even lower inflation floor which, in turn, is supported by a switch to an aggressive …