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Targeting inflation and the fiscal balance : what is the optimal policy mix?
Aurelio, Marcela Meirelles - Federal Reserve Bank of Kansas City - 2006
This paper identifies optimal policy rules in the presence of explicit targets for both the inflation rate and public debt. This issue is investigated in the context of a dynamic stochastic general equilibrium model that describes a small open economy with capital accumulation, distortionary...
Persistent link: https://www.econbiz.de/10005410776
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Inflation and relative price variability : durables vs. nondurables and services
Golob, John E.; Bishop, David G. - Federal Reserve Bank of Kansas City - 1997
Many researchers find a positive relationship between inflation and the variability of relative prices within aggregate … price indices. This paper looks at the relationship between inflation and the variability of relative prices for three …
Persistent link: https://www.econbiz.de/10005515023
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Inflation, inflation uncertainty, and relative price variability: a survey
Golob, John E. - Federal Reserve Bank of Kansas City - 1993
Persistent link: https://www.econbiz.de/10005515065
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Do we really know how inflation targeters set interest rates?
Aurelio, Marcela Meirelles - Federal Reserve Bank of Kansas City - 2005
In inflation targeting (IT) regimes, the Monetary Authority announces an explicit objective, the target for inflation. However, other objectives that possibly conflict with the inflation goal are present, such as keeping output close to its potential level and the stability of financial markets....
Persistent link: https://www.econbiz.de/10005410707
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The performance of monetary and fiscal rules in an open economy with imperfect capital mobility
Meirelles-Aurelio, Marcela - Federal Reserve Bank of Kansas City - 2005
This paper studies monetary and fiscal policy rules, and investigates the characteristics of optimal policies. The central focus of the paper is on the comparison of two types of fiscal rules: a balanced budget and a target for the primary surplus. Balanced budget rules (or, more generally,...
Persistent link: https://www.econbiz.de/10005410735
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Regime changes and monetary stagflation
II, Edward S. Knotek - Federal Reserve Bank of Kansas City - 2006
This paper examines whether monetary shocks can consistently generate stagflation in a dynamic, stochastic setting. I assume that the monetary authority can induce transitory shocks and longer-lasting monetary regime changes in its operating instrument. Firms cannot distinguish between these...
Persistent link: https://www.econbiz.de/10005410831
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Market indicators for monetary policy
Garner, C. Alan - Federal Reserve Bank of Kansas City - 1989
Persistent link: https://www.econbiz.de/10005410719
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Monetary policy in an estimated optimization-based model with sticky prices and wages
Amato, Jeffery D.; Laubach, Thomas - Federal Reserve Bank of Kansas City - 1999
prices and wages. Second, the estimated model is used to analyze the welfare properties of various interest rate rules for …
Persistent link: https://www.econbiz.de/10005410741
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Commodity prices: policy target or information variable?
Garner, C. Alan - Federal Reserve Bank of Kansas City - 1988
Persistent link: https://www.econbiz.de/10005515069
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The responses of prices at different stages of production to monetary policy shocks
Clark, Todd E. - Federal Reserve Bank of Kansas City - 1996
This paper examines the responses of prices at different stages of production to an explicitly identified demand shock … used to identify the policy shock as the innovation to the federal funds rate in a VAR. The adjustment of prices at … different stages of production is examined by adding three different sets of prices to the basic VAR model: (a) the PPIs for …
Persistent link: https://www.econbiz.de/10005724273