inflation expectations increased leading to fears of their un-anchoring. Using the first principal component of commodity prices …. Using a Phillips Curve framework we find a structural change after the collapse of Lehman Brothers when inflation …

during the last 20 years. All central banks under review target a small and positive inflation rate (typically 2%). In most … strategies when the policy rate is constrained by the effective lower bound (ELB). Under standard inflation targeting, inflation … inflation target performs better than a range, especially if compared to an asymmetric one with the focal point close to the …

Inflation in advanced economies is low by historical standards but there is no threat of deflation. Slower economic … growth is caused by supply-side constraints rather than low inflation. Below-the-target inflation does not damage the … reputation of central banks. Thus, central banks should not try to bring inflation back to the targeted level of 2%. Rather, they …

the ten countries, the United Kingdom has conducted inflation targeting most in line with the theory of rational …In this paper I evaluate inflation targeting for ten countries. The evaluation is based on unconditional as well as … conditional measures of the variance of inflation around target. With strict inflation targeting, expectations of the future …

The standard measure of core or underlying inflation is the inflation rate excluding food and energy prices. This paper … constructs an alternative measure, the weighted median inflation rate, for 38 advanced and emerging economies using subclass …, and more closely related to headline inflation over the next year. The weighted median also has a drawback: in most …