Should Central Banks Target CPI Futures?
The author considers recent proposals that the government should attempt to stabilize the nominal value of a CPI futures contract. Under a variety of conditions, arbitrageurs will break the peg and bankrupt the central bank, the central bank ends up in a gaming problem with private traders, or the regime collapses into discretion. Copyright 1997 by Ohio State University Press.
Year of publication: |
1997
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Authors: | Cowen, Tyler |
Published in: |
Journal of Money, Credit and Banking. - Blackwell Publishing. - Vol. 29.1997, 3, p. 275-85
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Publisher: |
Blackwell Publishing |
Saved in:
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