Price-level versus inflation targeting

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How researchers see this paper

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Monetary Policy Strategy: Lessons from the Crisis (2011, unknown): “Theoretical research starting in the late 1990s (e.g., Svensson, 1999, Woodford, 1999, Ditmar and Gavin, 1999, 2000, and Vestin, 2000, 2006) demonstrated that a price-level target produces less output variance than an inflation target.”
Vacancies, Unemployment, and the Phillips Curve (2007, methodology): “provides the necessary degree of freedom in (40), which can now be rewritten as”
Using monetary policy to stabilize economic activity (2009, background): “…with the ZLB, but it did serve to reverse previous beliefs that price-level targeting would lead to excessive volatility in the real economy.24 An advantage of price-level targeting is its ability to mimic an optimal commitment policy when the actual regime is one of discretion (Vestin 2006).”