Inflation targeting vs price-level targeting: a new survey of theory and empirics
Inflation targeting vs price-level targeting: a new survey of theory and empirics
Inflation targeting and price-level targeting have excited economists for decades. This column reviews a survey on the merits of price-level targeting. The latter could potentially help monetary policy deal with the zero bound on nominal interest rates. Such beneficial effects depend on rational expectations and a New Keynesian structure of the economy.
Hatcher, Michael
e0846252-6d46-44f8-ba3c-05cf1fba64ab
Minford, Patrick
3506ad67-a24f-4746-9b50-61c0e26bd9a9
11 May 2014
Hatcher, Michael
e0846252-6d46-44f8-ba3c-05cf1fba64ab
Minford, Patrick
3506ad67-a24f-4746-9b50-61c0e26bd9a9
Hatcher, Michael and Minford, Patrick
(2014)
Inflation targeting vs price-level targeting: a new survey of theory and empirics.
Vox.
Abstract
Inflation targeting and price-level targeting have excited economists for decades. This column reviews a survey on the merits of price-level targeting. The latter could potentially help monetary policy deal with the zero bound on nominal interest rates. Such beneficial effects depend on rational expectations and a New Keynesian structure of the economy.
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Published date: 11 May 2014
Organisations:
Economics
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Local EPrints ID: 370836
URI: http://eprints.soton.ac.uk/id/eprint/370836
PURE UUID: 963f5097-4cdd-4637-b1e2-da24f43ba8eb
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Date deposited: 10 Nov 2014 12:53
Last modified: 15 Mar 2024 03:50
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Author:
Patrick Minford
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