Bank's Monetary Policy Committee felt that additional measures were necessary to meet the inflation target in the medium … the aim of injecting money into the economy and boosting nominal spending, in order to help achieve the Bank's inflation … output and inflation: a large Bayesian VAR; a change-point structural VAR; and a time-varying parameter VAR. Our preferred …

switch from exchange rate to inflation targeting and adoption of a policy rule for the use of petroleum revenues.We find that … the long-run means of CPI and core inflation rates declined significantly until the mid-1990s and have since then remained … close to the inflation target of 2.5% from 2001 onwards. The persistence in especially CPI inflation has fallen during the …

switch from exchange rate to inflation targeting and adoption of a policy rule for the use of petroleum revenues. We find … that the long-run means of CPI and core inflation rates declined significantly until the mid-1990s and have since then … remained close to the inflation target of 2.5% from 2001 onwards. The persistence in especially CPI inflation has fallen during …

Bank’s Monetary Policy Committee felt that additional measures were necessary to meet the inflation target in the medium … the aim of injecting money into the economy and boosting nominal spending, in order to help achieve the Bank’s inflation … output and inflation: a large Bayesian VAR; a change-point structural VAR; and a time-varying parameter VAR. Our preferred …

We use a simple New Keynesian model, with firm specific capital, non-zero steady-state inflation, long-run risks and … rate by 150 basis points causes output and inflation volatility to rise around 10% above their steady-state standard … deviations from the policy rule and the results are re-enforced by the presence of non-zero trend inflation. …

declined over time. The timing of the change coincides with the introduction of inflation targeting in the U.K. …