In this paper we consider that the relationship between nominal exchange rate and prices depends on the nature of the …, respectively. According to our results, supply and real demand shocks move nominal exchange rates and relative prices in opposite …

This paper develops a simple intertemporal model of inflation targets within a framework in which the public is … uncertain about the dependability of policymakers, and in which policymakers do not perfectly control inflation. The framework … transparency (or precision of inflation control) on planned inflation, announced targets and the evolution of reputation and of …

alleviated by adopting state-contingent inflation targets (to combat the monetary policy commitments problem) and shock …

rejected for the floating exchange rate period from 1984 to 1991 when inflation was high and not specifically targeted by the …

We use the ten years of experience in inflation-targeting in New Zealand since 1989 to test whether monetary policy … appears to conform to the simple rules that have been recommended for it in the literature. Of the inflation targeting central …