that six ideas that are now accepted by monetary authorities and governments in almost all countries of the world have led … to improved monetary performance: 1) there is no long-run tradeoff between output (employment) and inflation; 2 …) expectations are critical to monetary policy outcomes; 3) inflation has high costs; 4) monetary policy is subject to the time …

ideas that are now accepted by monetary authorities and governments in almost all countries of the world have led to … improved monetary performance: 1) there is no long-run tradeoff between output (employment) and inflation; 2) expectations are … critical to monetary policy outcomes; 3) inflation has high costs; 4) monetary policy is subject to the time …

This paper examines what strategies policymakers have used to both reduce and control inflation. It first outlines why … a consensus has emerged that inflation needs to be controlled. Then it examines four basic strategies: exchange rate … pegging, monetary targeting, inflation targeting, and the just do it' strategy of preemptive monetary policy with no explicit …

This paper examines what strategies policymakers have used to both reduce and control inflation. It first outlines why … a consensus has emerged that inflation needs to be controlled. Then it examines four basic strategies: exchange rate … pegging, monetary targeting, inflation targeting, and the just do it' strategy of preemptive monetary policy with no explicit …