(2010)). We find that the optimal rule responds to house price inflation even when the stabilization of house price is not …

output, aggregate demand, and inflation to an increase in commodity price are magnified when these rules are imperfectly … volatility. Also, our results indicate that having an explicit fiscal rule and an inflation targeting regime contribute to …

We study the characteristics of inflation targeting as a shock absorber in response to large shocks in the form of … natural disasters for a sample of 76 countries over the period 1970-2015. We find that inflation targeting improves … macroeconomic performance following such shocks as it lowers inflation, raises output growth, and reduces inflation and growth …

rate both matter for determining inflation and economic activity …

trade-off between output and inflation is represented by the Sticky Information Phillips Curve proposed by Mankiw and Reis … instrument to a cost push (i.e., mark up) shock. Differently from what occurs in sticky price models, the anti-attenuation effect …

shocks and uncertainty about the central banker's and the medianvoter's inflation target. A contract which is based on self …-imposed monetary target announcements proves to be superior to the best monetary rule if conflicts about the inflation target within …-imposed targets depends on the type of conflict within society, whether the individuals disagree on the weight of the inflation versus …