Moments (TVP-GMM) framework. Using monthly data until December 2022 for five inflation targeting countries (the UK, Canada …, Switzerland), we find that monetary policy has become more averse to inflation and more responsive to the output gap in both sets … of countries over time. In particular, there has been a clear shift in inflation targeting countries towards a more …

gap coefficient is higher in the recessionary regime than in the normal one. The estimate of the inflation coefficient …

that minimize the unconditional volatilities of inflation and real activity. In our proposed approach, we take a large set … be more restrained in their inflation responses when their aim is to stabilize inflation and output growth at specific …

A central tenet of inflation targeting is that establishing and maintaining well-anchored inflation expectations are … essential. In this paper, we reexamine the role of key elements of the inflation targeting framework towards this end, in the … that incorporates three key characteristics of inflation targeting: transparency, commitment to maintaining price stability …

This article aims to review the monetary policy rule under inflation targeting framework focusing on Mongolia. The … empirical analysis estimates the policy reaction function to see if the inflation targeting has been linked with a monetary … policy rule emphasizing on inflation stabilization since its adoption in 2007. The study contributes to the literature by …