Inflation targeting and nominal-income-growth targeting: when and why are they suboptimal?
Article Abstract:
An econometric model for developing an optimal monetary policy is presented. The model compares the optimal and simple interest-rate rules. The model also features monopolistic competition in product and labor markets, and nominal contracts for wages and prices. An analysis of when and why inflation targeting and nominal-income-growth targeting are suboptimal is also presented.
Publisher: Elsevier B.V.
Publication Name: Journal of Monetary Economics
Subject: Economics
ISSN: 0304-3932
Year: 2005
United States, Contracts & orders received, Contracts & orders let, Analysis, Contracts, Inflation (Finance), Monetary policy, Contract agreement, Growth, Wages, Wages and salaries, Control, Income, Company growth, Inflation (Economics), Salary
Publication Name: Journal of Monetary Economics
Subject: Economics
ISSN: 0304-3932
Year: 2005
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Production chains and general equilibrium aggregate dynamics
Article Abstract:
A method to help generate persistent fluctuations in aggregate output is proposed, based on a dynamic stochastic general equilibrium model.
Publisher: Elsevier B.V.
Publication Name: Journal of Monetary Economics
Subject: Economics
ISSN: 0304-3932
Year: 2001
Economics, Research and Development in the Social Sciences and Humanities, Research, Equilibrium (Economics)
Publication Name: Journal of Monetary Economics
Subject: Economics
ISSN: 0304-3932
Year: 2001
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