This paper analyses the effects of two alternative monetary strategies (exchange rate targeting and inflation targeting … that countries in exchange rate targeting have a higher rate of GDP growth and lower inflation rate. In order to test the … related to exchange rate targeting, the effects of the introduction of inflation targeting in the unemployment rate were also …

Starting in the mid 1980s, the level and volatility of inflation decreased across industrial countries. The inflation … test the "good luck hypothesis", we examine the inflation experience of Canada, one of the earliest and most successful … adopters of an inflation targeting monetary policy. We Kalman-filter the historical structural shocks consistent with an …

. inflation anchoring properties. This layout is then confronted with the policy framework in use in the euro area prior to the … dis-anchoring of long-term inflation expectations experienced in the euro area since 2013, however, suggests that the … policy framework could benefit from a rebalancing towards a formulation with stronger anchoring properties. The inflation aim …

-level stability and low (including zero) inflation and the decisions about the price index, the quantitative target and the role of … a commitment to a simple instrument rule (like a Taylor rule), forecast targeting (like inflation-forecast targeting … against inflation-forecast targeting are scrutinized and found unconvincing. …

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 …

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 bank´s 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. …

Inflation targeting involves using all available information in stabilizing inflation around some target rate (Svensson …, 2003). Inflation is typically at the very end of the transmission mechanism and hence its determination is subject to much …