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.

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

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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.

Economics, Research and Development in the Social Sciences and Humanities, Research, Equilibrium (Economics)

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