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The Great Inflation and Early Disinflation in Japan and Germany

Nelson, Edward - C.E.P.R. Discussion Papers - 2007

This paper considers the Great Inflation of the 1970s in Japan and Germany. From 1975 onward these countries had low inflation relative to other large economies. Traditionally, this success is attributed to stronger discipline on the part of Japan and Germany’s monetary authorities - for...

Persistent link: https://www.econbiz.de/10005791626

The First Year Of The Eurosystem: Inflation Targeting Or Not?

Svensson, Lars E O - C.E.P.R. Discussion Papers - 2000

This paper is a brief evaluation of the Eurosystem's monetary-policy regime after its first year, in particular of the extent to which it is similar to inflation targeting as practiced by an increasing number of central banks. I examine the Eurosystem's goals, framework for monetary-policy...

Persistent link: https://www.econbiz.de/10005124046

Technology Shocks and Monetary Policy: Assessing the Fed's Performance

Galí, Jordi; Lopez-Salido, Jose David; Vallés … - C.E.P.R. Discussion Papers - 2002

The purpose of the present Paper is twofold. First, we characterize the Fed’s systematic response to technology shocks and its implications for US output, hours and inflation. Second we evaluate the extent to which those responses can be accounted for by a simple monetary policy rule...

Persistent link: https://www.econbiz.de/10005136438

Signalling and Commitment: Monetary versus Inflation Targeting

Gersbach, Hans; Hahn, Volker - C.E.P.R. Discussion Papers - 2003

This Paper compares the social efficiency of monetary targeting and inflation targeting when central banks may have private information on shocks to money demand and, because of verifiability problems, the transparency solution is not feasible. Under inflation targeting and monetary targeting,...

Persistent link: https://www.econbiz.de/10005497735

How Important is Money in the Conduct of Monetary Policy?

Woodford, Michael - C.E.P.R. Discussion Papers - 2007

I consider some of the leading arguments for assigning an important role to tracking the growth of monetary aggregates when making decisions about monetary policy. First, I consider whether ignoring money means returning to the conceptual framework that allowed the high inflation of the 1970s....

Persistent link: https://www.econbiz.de/10005504293

Monetary Policy Issues for the Eurosystem

Svensson, Lars E O - C.E.P.R. Discussion Papers - 1999

The paper discusses the choice between inflation targeting and monetary targeting as a strategy for the Eurosystem, the actual strategy the Eurosystem announced in the fall of 1998, the framework for policy decisions appropriate for achieving the goals of the Eurosystem, the role of exchange...

Persistent link: https://www.econbiz.de/10005114311

Eurosystem Monetary Targeting: Lessons from US Data

Rudebusch, Glenn D; Svensson, Lars E O - C.E.P.R. Discussion Papers - 2000

Using a small empirical model of inflation, output, and money estimated on US data, we compare the relative performance of monetary targeting and inflation targeting. The results show that monetary targeting would be quite inefficient, with both higher inflation and output variability. This is...

Persistent link: https://www.econbiz.de/10005661693

Price Stability as a Target for Monetary Policy: Defining and Maintaining Price Stability

Svensson, Lars E O - C.E.P.R. Discussion Papers - 1999

This paper discusses how price stability can be defined and how price stability can be maintained in practice. Some lessons for the Eurosystem are also considered. With regard to defining price stability, the choice between price-level stability and low (including zero) inflation and the...

Persistent link: https://www.econbiz.de/10005661748

The Merits of Ability in Developing and Developed Countries

Suryadarma, Daniel - Research School of Economics, College of Business and … - 2010

market returns to numeracy and cognitive ability in Indonesia and the United States. In Indonesia, I find that numeracy has … higher cognitive skills only pertain to males in Indonesia, while females have higher returns to numeracy than males in the … Indonesia and the United States indicate that different economic structures indeed demand different sets of skills. …

Persistent link: https://www.econbiz.de/10008671374

Labor Market Returns, Marriage Opportunities, or the Education System? Explaining Gender Differences in Numeracy in Indonesia

Suryadarma, Daniel - Research School of Economics, College of Business and … - 2010

dataset from Indonesia. A unique feature of the dataset is that it uses an identical test for two survey rounds, which implies …

Persistent link: https://www.econbiz.de/10008671375

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