The paper extends previous analysis of closed-economy inflation targeting to a small open economy with forward … for monetary policy. The paper compares targeting of CPI and domestic inflation, strict and flexible inflation targeting …, and inflation-targeting reaction functions and the Talyor rule. The optimal monetary policy response to several different …

The paper advances a simple and tractable Wicksellian model of inflation, in which the price level is determined by the …

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

Previous analysis of the implementation of inflation targeting is extended to monetary policy responses to different … stabilization or smoothing all call for a more gradual adjustment of the conditional inflation forecast toward the inflation target …. The conditional inflation forecast is the natural intermediate target during inflation targeting. …

The paper discusses the choice between inflation targeting and monetary targeting as a strategy for the Eurosystem, the …

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 …

Price level targeting (without base drift) and inflation targeting (with base drift) are compared under commitment and …

Eurosystem. The P* model implies that inflation is determined by the level of and changes in the "real money gap" (the deviation … inficator for future inflation. Nevertheless, the P* model does not seem to provide any rationale for either a Bundesbank …

than their subjectivity-prone values) are regressed with average inflation, average growth or their respective variance, as …