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 …

monetary targets, the SNB was able to reduce the inflation trend to low levels. However, it was less successful in preserving …-emptive policy stance. At the end of 1999, the SNB abandoned monetary targeting in favour of an approach based on inflation forecasts. …

particular the aim of price stability, understood as low and stable inflation. Design/Research methods: The article was prepared … inflation reduces uncertainty about future price developments. This facilitates decision-making for companies concerning …

Models of inflation usually have monetary policy affecting the economy through either an interest rate channel or a … and monetary channels must be seen as complementary, joint indicators of inflation and must both be incorporated into … models of inflation. A formal representation of price level determination and behaviour in this two-agent framework is …

liquidity trap if inflation is higher when a bubble bursts, then higher inflation is preferable. This paper suggests the … monetary policy objective can be enhanced by shifting it from explicit or implicit targeting of low and stable inflation to … explicit targeting of moderate and stable inflation. …

Inflation is considered one of the most sensitive macroeconomic phenomena in modern economies (inducing significant … that explain the nature and the causes of inflation are: the Keynesian approach that considers inflation as an effect of … (starting with Fisher) that approximates inflation through an index of prices and considers it a result of changes in the …