policy should be to stabilize the domestic purchasing power of the Swedish currency, the krona. With this step, price level … targeting officially became for the first time the goal for a central bank. Soon after, the Riksbank (Bank of Sweden) sent a …

policy should be to stabilize the domestic purchasing power of the Swedish currency, the krona. With this step, price level … targeting officially became for the first time the goal for a central bank. Soon after, the Riksbank (Bank of Sweden) sent a …

Keynesian models have multiple perfect-foresight paths eventually escaping the ZLB, price level targeting restores uniqueness …

Keynesian models have multiple perfect-foresight paths eventually escaping the ZLB, price level targeting restores uniqueness …

The paper compares price level targeting and inflation targeting regimes in a New Keynesian model with bounded … forecasting performance. Two main specifications of the price level targeting model are examined - the agents form expectations …. According to the results, price level targeting is preferred in the case with expectations created about price level under the …

We evaluate and compare alternative monetary policy rules, namely average inflation targeting, price level targeting … policy. We find that price level targeting policy, including nominal income targeting as a special case, most effectively …