is well described by rolling window linear detrending, while Greenbook inflation forecasts can be closely replicated … using Bayesian model averaging over Autoregressive Distributed Lag models in inflation and the GDP growth rate. German and U ….S. Taylor rules are characterized by inflation coefficients increasing with the forecast horizon and a positive output gap …

deviations of inflation from target, but not to monetary growth. This result is at odds with the Bundesbank's claim that it … Bundesbank took its monetary targets seriously, but also responded to deviations of expected inflation and output growth from …

rate response to deviations of the inflation rate from target, to the change in the output gap, to money demand shocks and …-term inflation expectations, monetary targeting introduces inertia and history-dependence into the monetary policy rule. This is …

interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response … policymakers at the time. -- Inflation ; Price Stability ; Monetary Policy ; Monetary Targeting ; Policy Rules …

interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response … policymakers at the time. -- Inflation ; Price Stability ; Monetary Policy ; Monetary Targeting ; Policy Rules …

interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response … policy-makers at the time. -- Inflation ; Price Stability ; Monetary Policy ; Monetary Targeting ; Policy Rules …

rate response to deviations of the inflation rate from target, to the change in the output gap, to money demand shocks and …-term inflation expectations, monetary targeting introduces inertia and history-dependence into the …

inflation, output and money growth. The analysis is based on a small empirical model of the hybrid New Keynesian type which has …