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particular the turn to inflation targeting. Monetary Policy Strategy describes his work over the last ten years, offering …; central bank accountability; the rationale for inflation targeting; the optimal inflation target; central bank transparency …
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This paper is the introductory chapter in my book, Monetary Policy Strategy, forthcoming from MIT Press. I thank my editor Elizabeth Murry for her extremely helpful comments. Any views expressed in this paper are those of the author only and not those of Columbia University or the National...
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monetary targeting, and inflation targeting. Inflation targeting has successfully controlled inflation, with some … promote growth, and does not lead to increased fluctuations in output. But inflation targets do not necessarily reduce the … cost of reducing inflation. The key to success of inflation targeting, is its stress on transparency, and communication …
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particular the turn to inflation targeting. Monetary Policy Strategy describes his work over the last ten years, offering …; central bank accountability; the rationale for inflation targeting; the optimal inflation target; central bank transparency …
Persistent link: https://www.econbiz.de/10004991827
[...]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...
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[...]In the case studies that follow, we will see that thedesign choices for an inflation-targeting regime fall …
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examined inthis study. Indeed, as pointed out in Bernanke and Mishkin(1997), Germany might best be thought of as a “hybrid”inflation …
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