Amano, Robert A.; Engle-Warnick, Jim; Shukayev, Malik - 2011
price-level targeting relative to inflation targeting for business cycle stabilization and mitigating the effects of the … the stationary nature of the price level under price-level targeting by observing their inflation forecasting behaviour in … a laboratory setting. This is an important assumption since, without it, price-level targeting can lead to worse …