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Does Inflation Targeting Increase Output Volatility? an International Comparison of Policymakers' Preferences and Outcomes

Cecchetti, Stephen G.; Ehrmann, Michael - 2021

Aggregate shocks that move output and inflation in opposite directions create a tradeoff between output and inflation … variability outcomes, revealing national central banker's relative weight on output and inflation variability in their preferences …. We use estimates of the structure of 23 industrialized and developing economies, including nine that target inflation …

Persistent link: https://www.econbiz.de/10013232895

Necessity as the Mother of Invention : Monetary Policy after the Crisis

Blinder, Alan S. - 2016

We ask whether recent changes in monetary policy due to the financial crisis will be temporary or permanent. We present evidence from two surveys—one of central bank governors, the other of academic specialists. We find that central banks in crisis countries are more likely to have resorted to...

Persistent link: https://www.econbiz.de/10012981105

Central Bank Communication and Monetary Policy : A Survey of Theory and Evidence

Blinder, Alan S. - 2010

Over the last two decades, communication has become an increasingly important aspect of monetary policy. These real-world developments have spawned a huge new scholarly literature on central bank communication -- mostly empirical, and almost all of it written in this decade. We survey this...

Persistent link: https://www.econbiz.de/10012759390