Over the last decade, many central banks have adopted policies known as inflation targeting. If intermediate … to the macroeconomic implications of inflation targeting. Unfortunately, the standard aggregate demand–aggregate supply … author provides a simple graphical device involving the output gap and the inflation rate that overcomes these problems and …

inflation targeting. An augmented Taylor rule is estimated with a Markov switching method for each of the nine countries on the … basis of monthly data over the period from the early 1990s to end-2009. In general, the results suggest that inflation … inflation targeting compared to the preceding period of exchange rate targeting: (1) The economic environment became more stable …

results, accompanied with a low inflation rate and high GDP growth rates. However, the macroeconomic situation has changed in …. One of the alternatives to the exchange rate anchor is inflation targeting. There are different theoretical and practical … issues connected to the implementation of this, very popular, monetary strategy. Before the implementation of inflation …

currency. The assessment of the inflation criterion concentrates on the potential clash with so called real convergence showing … applying for the ERM-II membership. Finally, the pros and cons of inflation targeting are discussed from the perspective of … promoting the fulfilment of Maastricht requirements. Attention is paid to the issue of optimal exit form inflation targeting …

inflation targets. However, Carlin-Soskice [2005] claims that such device is inadequate to explain the central bank reaction to …

We present evidence on Fear of Floating (FF) practices before and after the adoption of Inflation Targeting (IT) for … exchange rate and inflation shocks, and detect a drastic reduction in direct intervention in the foreign exchange market after … IT, accompanied by a stronger response to inflation. These findings are consistent with the IT framework, and suggest a …

Over the last twenty years the level and volatility of inflation decreased across industrial countries. The inflation … test the “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 estimated …

currency. The assessment of the inflation criterion concentrates on the potential clash with so called real convergence showing … applying for the ERM-II membership. Finally, the pros and cons of inflation targeting are discussed from the perspective of … promoting the fulfilment of Maastricht requirements. Attention is paid to the issue of optimal exit form inflation targeting …

disagreement can be reconciled within the framework of flexible inflation targeting, defined as a commitment to a targeting rule …