overly sensitive to monetary policy shocks, and that this is consistent with a model where long-term inflation expectations … are not anchored because agents must infer the central bankś inflation target from noisy interest rate movements. Using … inflation target - imperfect information about the target plays only a small role in un-anchoring expectations in their model …

economic performance under inflation targets, and arguments that the flexible exchange rate has undermined real economic …

. Smaller Fed policy errors accounted for the fall in inflation volatility. Smaller supply shocks accounted for the fall in …

financial stability. For this purpose, monetary policy is described by a flexible inflation targeting regime using the interest …

Using a small empirical model of inflation, output, and money estimated on U.S. data, we compare the relative … performance of monetary targeting and inflation targeting. The results show that monetary targeting would be quite inefficient …, with both higher inflation and output variability. This is true even with a deterministic money demand formulation. In this …

Using a small empirical model of inflation, output, and money estimated on U.S. data, we compare the relative … performance of monetary targeting and inflation targeting. The results show that monetary targeting would be quite inefficient …, with both higher inflation and output variability. This is true even with a deterministic money demand formulation. In this …

with inflation performance. …