of the model. We also find that strict price inflation targeting generates relatively large welfare losses, whereas …

welfare losses …

targeting in an estimated DSGE model fit to Canadian data. The policy implications are based on social welfare evaluations …. Compared to the historical inflation targeting rule, an optimal price level targeting regime substantially reduces the welfare … model, significantly contributes to quantify the welfare gains of price level targeting. -- Financial stability ; Inflation …

Various papers have suggested that Price-Level targeting is a welfare improving policy relative to Inflation targeting … adjustments. However, using the expenditure weights instead of the optimal ones results in very small welfare cost. -- Monetary …

Taylor-type interest rate rules achieve welfare levels similar to those generated by sophisticated closed-loop strategies. … owing to fiscal deviations. More aggressive defence of the inflation target implies lower debt and higher welfare. Simple …

anchor is visible in the break we estimate in Taylor-type rules as well as in asset prices. We also argue that recent …