This paper examines the persistence of inflation in inflation and non-inflation targeting countries. It is shown empirically that inflation persistence has fallen in inflation targeting countries relative to some non-inflation targeting countries. However, it is not possible to determine at...

The introduction of inflation targets in Canada in 1991 ostensibly clarified the objectives of monetary policy, namely the pursuit of price stability. In doing so, one of the objectives of the new policy was to ensure that the public would henceforth be able to assess more easily monetary policy...