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Monetary policy rules have been considered as fundamental protection against inflation. However, empirical evidence for a correlation between rules and inflation is relatively weak. In this paper, we first discuss likely causes for this weak link and present the argument that monetary commitment...
Persistent link: https://www.econbiz.de/10009569729
Monetary policy rules have been considered as fundamental protection against inflation. However, empirical evidence for a correlation between rules and inflation is relatively weak. In this paper, we first discuss likely causes for this weak link and present the argument that monetary commitment...
Persistent link: https://www.econbiz.de/10010334520
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. -- credibility ; central bank independence ; price stability ; monetary commitment …
Persistent link: https://www.econbiz.de/10009579330
. -- Credibility ; central bank independence ; price stability ; monetary commitment …
Persistent link: https://www.econbiz.de/10009580097
Monetary policy rules have been considered as fundamental protection against inflation. However, empirical evidence for a correlation between rules and inflation is relatively weak. In this paper, we first discuss likely causes for this weak link and present the argument that monetary commitment...
Persistent link: https://www.econbiz.de/10010209948
Persistent link: https://www.econbiz.de/10014550022