Since 1990, a number of countries have adopted inflation targeting as their declared monetary strategy. Interpretations of the significance of this movement, however, have differed widely. To some, inflation targeting mandates the single-minded, rule-like pursuit of price stability without...

This paper analyzes inflation persistence in Iran by applying an autoregressive model and a grid bootstrap method over the period of 1970 to 2011. The findings show that the coefficient of inflation persistence is 0.44 and the absolute value is 0.44 1. This implies that there are at least some...

New Zealand's operationally independent Reserve Bank should remain focused on achieving its primary objective of stability in the general level of prices. This should be under widely accepted flexible inflation targeting conditions and without distraction from at best temporarily effective...

Since the 1990s there have been major changes in the way monetary policy is conducted. Since other monetary strategies did not result in the desired outcome, the first concept of inflation targeting was presented in New Zealand (1990), then in Canada (1991), England (1992), Sweden and Finland...