Add to ORKGInflation targeting needs to be supplemented by an economic growth target so that central banks will not adopt monetary policy which results in stagnation. There is no guarantee that the economy will move towards full employment by itself when the inflation rate is kept between two to three per cent. Monetary policy does not have a comparative advantage in achieving price stability. Svensson's proposal that the Keynesian interest rate channel and the Phillips curve can be exploited by the monetary authority for the purpose of inflation targeting may not work. The R in NAIRU should stand for "range " not "rate"
Inflation distorts prices, erodes savings, discourages investment, stimulates capital flight, inhibi...
This paper argues that the success of inflation targeting is principally the result of having a clea...
Within a simple New Keynesian model emphasizing forward-looking behaviour of private agents, I evalu...
In this paper, we argue that an explicit inflation-targeting policy is not likely to be a desirable ...
Inflation targeting is often considered the most appropriate monetary policy framework for central b...
Many countries in the developing world have adopted an approach to monetary policy that focuses on m...
In its early history, monetary policy focused on numerous objectives, including stable growth, full ...
This paper argues that inflation targeting should not be defined too narrowly. The principal objecti...
The main features and implications of a monetary regime based on inflation targeting are examined an...
average an annual inflation rate of slightly over 11 percent. During the same period, its annual ave...
The mainstream inflation-targeting literature makes the strong assumption that the central bank can ...
Flexible inflation targeting implies that the central bank must in the short term strike a balance b...
Inflation targeting is shown to imply inflation forecast targeting; the central bank’s inflation for...
The paper argues that inflation targeting is an insufficient framework for monetary policy in the pr...
N umerous economists have advocated an inflation target for the UnitedStates (see, for example, Mish...
Inflation distorts prices, erodes savings, discourages investment, stimulates capital flight, inhibi...
This paper argues that the success of inflation targeting is principally the result of having a clea...
Within a simple New Keynesian model emphasizing forward-looking behaviour of private agents, I evalu...
In this paper, we argue that an explicit inflation-targeting policy is not likely to be a desirable ...
Inflation targeting is often considered the most appropriate monetary policy framework for central b...
Many countries in the developing world have adopted an approach to monetary policy that focuses on m...
In its early history, monetary policy focused on numerous objectives, including stable growth, full ...
This paper argues that inflation targeting should not be defined too narrowly. The principal objecti...
The main features and implications of a monetary regime based on inflation targeting are examined an...
average an annual inflation rate of slightly over 11 percent. During the same period, its annual ave...
The mainstream inflation-targeting literature makes the strong assumption that the central bank can ...
Flexible inflation targeting implies that the central bank must in the short term strike a balance b...
Inflation targeting is shown to imply inflation forecast targeting; the central bank’s inflation for...
The paper argues that inflation targeting is an insufficient framework for monetary policy in the pr...
N umerous economists have advocated an inflation target for the UnitedStates (see, for example, Mish...
Inflation distorts prices, erodes savings, discourages investment, stimulates capital flight, inhibi...
This paper argues that the success of inflation targeting is principally the result of having a clea...
Within a simple New Keynesian model emphasizing forward-looking behaviour of private agents, I evalu...