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The elusive welfare economics of price stability as a monetary policy objective: why New Keynesian central bankers should validate core inflation
Buiter, Willem H. - 2006
The paper studies the inflation rate associated with optimal monetary and fiscal policy in a number of standard dynamic stochastic general equilibrium models with nominal price rigidities. While the focus is on Calvo-style nominal price contracts with a range of indexation rules for constrained...
Persistent link: https://www.econbiz.de/10011604655
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The elusive welfare economics of price stability as a monetary policy objective : why New Keynesian central bankers should validate core inflation
Buiter, Willem H. (contributor) - 2006
The paper studies the in.ation rate associated with optimal monetary and fiscal policy in a number of standard dynamic stochastic general equilibrium models with nominal price rigidities. While the focus is on Calvo-style nominal price contracts with a range of indexation rules for constrained...
Persistent link: https://www.econbiz.de/10003320634
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Can central banks go broke?
Buiter, Willem H. - 2008
Persistent link: https://www.econbiz.de/10003717363
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Is numérairology the future of monetary economics? : unbundling numéraire and medium of exchange through a virtual currency and a shadow exchange rate
Buiter, Willem H. - In: Open economies review 18 (2007) 2, pp. 127-156
Persistent link: https://www.econbiz.de/10003481998
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Can Central Banks Go Broke?
Buiter, Willem H. - 2014
The paper answers three questions.(1) Does it matter if a central bank suffers a large capital loss? (2) Can the central bank become insolvent? (3) When, how and by whom should the central bank be recapitalised?
Persistent link: https://www.econbiz.de/10013048185
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The Elusive Welfare Economics of Price Stability as a Monetary Policy Objective : Should New Keynesian Central Bankers Pursue Price Stability?
Buiter, Willem H. - 2004
(2) The constrained price setters of the Calvo model implement an ill-posed, arbitrary price indexation rule, such as the lagged partial indexation rule used by Woodford to make a case for price stability
Persistent link: https://www.econbiz.de/10012467841