This paper reconsiders the narratives surrounding Japan's economic performance since the 1980s in relation to the … parallels. It is found that the poor reputation of the Bank of Japan (BoJ) is, at times, underserved. To be sure, there were …

The Federal Reserve's objective, namely the dovish stance, is often blamed for the Great Inflation. A popular proxy for … the former is constructed based on the inflation coefficients in estimated Taylor rules. However, for a welfare …

political business cycles, the inflation-stabilisation dilemma is discussed along with proposed solutions in the form of central … bank independence and conservativeness, incentive contracts, and inflation targets. The final section turns to current …

necessary during the pandemic. The prolonged money expansion contributed to fuel inflation during the post-recession rebound …

inflation and output stabilisation mandates of the CBN. The study also finds that inclusion of more instruments in the CBN … therefore emphasises the difficulty of the CBN to effectively manage inflation and output stabilisation simultaneously, which …

central bank, the Bank of Japan (BOJ), has influenced private sector expectations of inflation, and whether the degree of …-term inflation target to help anchor expectations. This paper aims to document how much the release of the forecasts of one major … influence depends to any degree on the adoption of an inflation target (IT). Consistent with earlier studies, we find the …