Konzept mit seiner Reser-viertheit gegenüber einer aktivistischen Geldpolitik und mit der Überzeugung, dass Inflation ein … targeting versus inflation targeting is judged as somewhat exaggerated. Being a potential future concept, components of a … developed targeting are consi-dered, with its roots on the insight that inflation is a monetary phenomenon and that a monetary …

money now can cause higher inflation in the future. In spite of the qualifier ‘unpleasant,' this result is positive in … central bank to delay inflation by issuing debt to finance part of the fiscal deficit. The analysis is conducted in the … optimal to delay inflation, it does so knowing that it would result in higher inflation in the future. The central result of …