Similar Search Results

Mishkin, Frederic S.; Posen, Adam Simon - Federal Reserve Bank <New York, NY> - 1997

[...]The first intellectual development challenging the use ofan activist monetary policy to stimulate output and reduceunemployment is the finding, most forcefully articulatedby Milton Friedman, that the effects of monetary policyhave long and variable lags.1 The uncertainty of the timingand...

Persistent link: https://www.econbiz.de/10005870226

Design Issues in the Implementation of Inflation Targets

Mishkin, Frederic S.; Posen, Adam Simon - Federal Reserve Bank <New York, NY> - 1997

[...]In the case studies that follow, we will see that thedesign choices for an inflation-targeting regime fall …

Persistent link: https://www.econbiz.de/10005870227

German Monetary Targeting: A Precursor to Inflation Targeting

Mishkin, Frederic S.; Posen, Adam Simon - Federal Reserve Bank <New York, NY>; London School of … - 1997

examined inthis study. Indeed, as pointed out in Bernanke and Mishkin(1997), Germany might best be thought of as a “hybrid”inflation …

Persistent link: https://www.econbiz.de/10005870228

Part IV.New Zealand

Mishkin, Frederic S.; Posen, Adam Simon - Federal Reserve Bank <New York, NY> - 1997

[...]Inflation targeting in New Zealand followed legislationthat mandated a Policy Targets Agreement (PTA)between the … elected government and the newlyindependent central bank, which resulted in a jointlydecided numerical target for inflation.[...] …

Persistent link: https://www.econbiz.de/10005870261

Part V. Canada

Mishkin, Frederic S.; Posen, Adam Simon - Federal Reserve Bank <New York, NY> - 1997

[...]Inflation targeting in Canada was not the result oflegislation. However, as in New Zealand, the inflationtarget in …

Persistent link: https://www.econbiz.de/10005870263

Part VI. United Kingdom

Mishkin, Frederic S.; Posen, Adam Simon - Federal Reserve Bank <New York, NY> - 1997

[...]Like the other countries examined, the United Kingdomadopted inflation targets after a successful disinflation …

Persistent link: https://www.econbiz.de/10005870264

Part VII. How Successful Has InflationTargeting Been?

Mishkin, Frederic S.; Posen, Adam Simon - Federal Reserve Bank <New York, NY> - 1997

-term interest rates exhibits a pattern of behaviorafter the adoption of the inflation target that differsmarkedly from the pattern … three inflation targeters we examine.[...] …

Persistent link: https://www.econbiz.de/10005870265

Part VIII. Conclusions: What Have We Learned?

Mishkin, Frederic S.; Posen, Adam Simon - Federal Reserve Bank <New York, NY> - 1997

practice inthe operation of an inflation-targeting regime. Where thedesign choices have differed, however, the experiences … publicannouncement of numerical targets for inflation has beenvery effective in balancing the needs for transparency andflexibility in …

Persistent link: https://www.econbiz.de/10005870267