implementation of monetary policy that gives a major role to an inflation forecast and has been called forecast targeting, and a high …-market economies. The chapter discusses the history, macroeconomic effects, theory, practice, and future of inflation targeting …Inflation targeting is a monetary-policy strategy that is characterized by an announced numerical inflation target, an …

"Forecast targeting," forward-looking monetary policy that uses central-bank judgment to construct optimal policy …

The purpose of the paper is to survey and discuss inflation targeting in the context of monetary policy rules. The … of inflation targeting, compares inflation targeting to other monetary policy rules, and draws some conclusions for the …

, which involves a commitment to higher future inflation. This commitment mechanism works even though, realistically, the …

long run Phillips curve recorded -0.75 in Sweden and -0.23 in the United States. While the average inflation rate in the … United States was very close to its targeted level, the average inflation rate in Sweden was 0.6 per- centage points below … its targeted level over the sample period. The deviation of inflation rate from its targeted level in Sweden resulted in …

forecast targetingʺ to more general certainty non-equivalence and distribution forecast targeting.ʺ …