India’s Inflation Process Before and After Flexible Inflation Targeting

Policy Preferences for Output Stability before and after Inflation Targeting

É proibida a reprodução parcial ou integral do conteúdo deste documento por qualquer meio de distribuição, digital ou im-presso, sem a expressa autorização do Insper ou de seu autor. A reprodução para fins didáticos é permitida observando-sea citação completa do documento Abstract This paper examines a set of inflation-targeting countries and presents evidence on the attitude of policymakers to...

Flexible Inflation Targeting: Experiences and Challenges

I report some personal views and reflections on transparency experiences and transparency challenges following my first year and a half as Deputy Governor at Sveriges Riksbank regarding (1) flexible inflation targeting, (2) the role of transparency in inflation targeting and committee decisions on instrument-rate paths, (3) the management of interest-rate expectations, and (4) the publishing of...

Flexible inflation targeting and labor market inefficiencies☆

a r t i c l e i n f o Do congestion externalities offer a reason to depart from complete price stability as the only goal of monetary policy in a New Keynesian model featuring search frictions, and under what conditions is the welfare cost of labor-market distortions sizable? This paper tries to answer these questions by deriving a linear quadratic framework for optimal monetary policy analysis...

Inflation Targets and Inflation Targeting

There is widespread agreement that price stability (in practice, low and stable inflation) should be an objective of monetary policy. This agreement is reflected both in the mandates set for monetary policy by governments and in the practice of central banks. Several other important questions about the objectives for monetary policy are less settled: Should there be other objectives? If there a...

Inflation Band Targeting and Optimal Inflation Contracts