01705cas a2200265 a 4500 AALejournalIMF001570 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451842418 1018-5941 BD-DhAAL BD-DhAAL Isard, Peter. Inflation Targeting with NAIRU Uncertainty and Endogenous Policy Credibility / Peter Isard, Douglas Laxton, Ann-Charlotte Eliasson. Washington, D.C. : International Monetary Fund, 2001. 1 online resource (41 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Stochastic simulations are employed to compare performance of monetary policy rules in linear and nonlinear variants of a small macro model with NAIRU uncertainity under different assumptions about the way inflation expectations are formed. Cases in which policy credibility is ignored or treated as exogenous are distinguished from cases in which credibility and inflation expectations respond endogenuously policy credibility strengthens the case for forward-looking inflation forecast based rules relative to backward-looking Taylor rules. Mode of access: Internet Eliasson, Ann-Charlotte. Laxton, Douglas. IMF Working Papers; Working Paper ; No. 2001/007 Full text available on IMF http://elibrary.imf.org/view/journals/001/2001/007/001.2001.issue-007-en.xml IMF e-Library