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Monetary policy rules and stability: inflation targeting versus price-level targeting

Carlstrom, Charles T.; Fuerst, Timothy S. - In: Economic Commentary (2002) Feb

Monetary policy rules help central banks exercise the discipline necessary to achieve their long-term goals. The type …

Persistent link: https://www.econbiz.de/10005390458

Central bank independence: the key to price stability?

Carlstrom, Charles T.; Fuerst, Timothy S. - In: Economic Commentary (2006) Sep

Low inflation over long periods is the sign of an effective central bank. The authors suggest that a large fraction of … central banks. …

Persistent link: https://www.econbiz.de/10005512825

Does it matter (for equilibrium determinacy) what price index the central bank targets?

Carlstrom, Charles T.; Fuerst, Timothy S.; Ghironi, Fabio - Federal Reserve Bank of Cleveland - 2002

What inflation rate should the central bank target? The authors address determinacy issues related to this question in … principle holds in this environment. If the central bank elects to target sector A and responds to price movements in this …

Persistent link: https://www.econbiz.de/10005428237

Central bank independence and inflation: a note

Carlstrom, Charles T.; Fuerst, Timothy S. - Federal Reserve Bank of Cleveland - 2006

We document increased central bank independence within the set of industrialized nations. This increased independence …

Persistent link: https://www.econbiz.de/10005428347

The fiscal theory of the price level

Carlstrom, Charles T.; Fuerst, Timothy S. - In: Economic Review (2000) Q I, pp. 22-32

A traditional function of the central bank is to control the price level. The fiscal theory of the price level …

Persistent link: https://www.econbiz.de/10005360714

Learning and the central bank

Carlstrom, Charles T.; Fuerst, Timothy S. - Federal Reserve Bank of Cleveland - 2001

It is well known that sunspot equilibria may arise under an interest-rate operating procedure in which the central bank …

Persistent link: https://www.econbiz.de/10005526594

Investment and interest rate policy: a discrete time analysis

Carlstrom, Charles T.; Fuerst, Timothy S. - Federal Reserve Bank of Cleveland - 2003

This paper analyzes the restrictions necessary to ensure that the interest rate policy rule used by the central bank …

Persistent link: https://www.econbiz.de/10005428330

Asset prices, nominal rigidities, and monetary policy

Carlstrom, Charles T.; Fuerst, Timothy S. - Federal Reserve Bank of Cleveland - 2004

Should monetary policy respond to asset prices? This paper analyzes this question from the vantage point of equilibrium determinacy.

Persistent link: https://www.econbiz.de/10005729091

A conference on price stability

Carlstrom, Charles T.; Gavin, William T. - In: Economic Review (1991) Q IV, pp. 2-9

A discussion of six papers presented at the Federal Reserve Bank of Cleveland's Conference on Price Stability in November 1990, focusing on how recent developments in macroeconomic research have changed perceptions about optimal inflation policy.

Persistent link: https://www.econbiz.de/10005360789

Monetary policy and self-fulfilling expectations: the danger of forecasts

Carlstrom, Charles T.; Fuerst, Timothy S. - In: Economic Review (2001) Q I, pp. 9-19

What rule should a central bank interested in inflation stability follow? Because monetary policy tends to work with …

Persistent link: https://www.econbiz.de/10005707894