We examine the relationship between interest rates and inflation rates for ten countries during the period 1974- 1995 … Canada, and the U.S., Germany, and Japan. No similar relationship is obtained between inflation rates with one exception …, namely the U.S. and Canada. We interpret these results as convergence in inflation but not in interest rates. Hence, if …

industrial countries and to consider the role of inflation targets in the process. We also consider the robustness of results to … different DGPs for inflation expectations and the output gap. The introduction of inflation targets increases the level of real …

choices between 1970 and 2000. We focus on the role of asymmetric shocks as a core determinant for the evaluation of various … inflation targeting) on selected macroeconomic variables. Estimates of structural VARs are used to ascertain if the countries … that a floating regime with inflation targeting is best for Canada, a monetary union with Australia is the best course of …

choices between 1970 and 2000. We focus on the role of asymmetric shocks as a core determinant for the evaluation of various … inflation targeting) on selected macroeconomic variables. Estimates of structural VARs are used to ascertain if the countries … that a floating regime with inflation targeting is best for Canada, a monetary union with Australia is the best course of …

, the domestic spread, inflation and output growth forecasts, and deviations from an inflation target in the case of Canada … rate changes most often when the (lagged) domestic spread serves as the transition variable. In the case of the inflation … inflation target. We supplement estimates with extensive diagnostic testing to ensure that we can reject the linear alternative …

spread, the domestic spread, inflation and output growth forecasts, and deviations from an inflation target in the case of … the inflation targeting countries in our sample, the most appropriate transition variable can be the deviation from the … publicly announced inflation target. We supplement estimates with extensive diagnostic testing of the non-linear model to …

choices between 1970 and 2000. We focus on the role of asymmetric shocks as a core determinant for the evaluation of various … inflation targeting) on selected macroeconomic variables. Estimates of structural VARs are used to ascertain if the countries … that a floating regime with inflation targeting is best for Canada, a monetary union with Australia is the best course of …

inflation averse than the ECB. In contrast, the shadow committee of the BoE proposes a more hawkish monetary policy stance than …