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 …

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 de-termination is subject to much …

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

-level stability and low (including zero) inflation and the decisions about the price index, the quantitative target and the role of … inflation-forecast targeting are scrutinized and found unconvincing. …

The paper discusses the choice between inflation targeting and monetary targeting as a strategy for the Eurosystem, the … of the Eurosystem. The choice between inflation targeting and monetary targeting is, in effect, a choice between high and … low transparency. Inflation targeting and monetary targeting, in practice, imply similar policy decisions, but monetary …

Inflation targeting is shown to imply inflation forecast targeting: the central bank's inflation forecast becomes an … explicit intermediate target. Inflation forecast targeting simplifies both implementation and monitoring of monetary policy …. The weight on output stabilization determines how quickly the inflation forecast is adjusted towards the inflation target …

-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 …

We examine to what extent variants of inflation-forecast targeting can avoid stabilization bias, incorporate history …. A suitably designed inflation-forecast targeting rule can achieve the social optimum and at the same time have a more …

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