Optimal Horizons for Inflation Targeting

In this paper we investigate the problem of selecting an optimal horizon for inflation targeting in the United Kingdom. Since there are two key ways of thinking about an optimal horizon, we look at optimal horizons for both of these interpretations. In addition, to see whether our results are robust in the face of model uncertainty, we compute optimal horizons for two different models with divergent structural and dynamic characteristics.

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Year of publication:	2000-02-01
Authors:	Batini, Nicoletta ; Nelson, Edward
Institutions:	Sveriges Riksbank
Subject:	Inflation targeting \| Horizon \| Optimal policy rules \| Simple feedback rules \| Target

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Extent:	application/pdf
Series:	Working Paper Series.
Type of publication:	Book / Working Paper
Notes:	Published in Journal of Economic Dynamics and Control, 2001, pages 891-910. The text is part of a series Working Paper Series Number 103 42 pages
Classification:	E37 - Forecasting and Simulation ; E52 - Monetary Policy (Targets, Instruments, and Effects) ; E58 - Central Banks and Their Policies
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005423747