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Monetary policy can achieve average inflation equal to a given inflation target and, at best, a good compromise between inflation variability and output-gap variability. Monetary policy cannot completely stabilize either inflation or the output gap. Increased credibility in the form of inflation...
Persistent link: https://www.econbiz.de/10013225117
Monetary policy can achieve average inflation equal to a given inflation target and, at best, a good compromise between inflation variability and output-gap variability. Monetary policy cannot completely stabilize either inflation or the output gap. Increased credibility in the form of inflation...
Persistent link: https://www.econbiz.de/10012469217
Persistent link: https://www.econbiz.de/10001760884
Persistent link: https://www.econbiz.de/10001823200
This paper studies the transmission of shocks and the trade-offs between stabilizing CPI inflation and alternative measures of the output gap in Ramses, the Riksbank's empirical dynamic stochastic general equilibrium (DSGE) model of a small open economy. The main results are, first, that the...
Persistent link: https://www.econbiz.de/10013155880
Persistent link: https://www.econbiz.de/10010426623
Persistent link: https://www.econbiz.de/10003791321
Persistent link: https://www.econbiz.de/10003793652
This paper studies the transmission of shocks and the trade-offs between stabilizing CPI inflation and alternative measures of the output gap in Ramses, the Riksbank's empirical dynamic stochastic general equilibrium (DSGE) model of a small open economy. The main results are, first, that the...
Persistent link: https://www.econbiz.de/10012758144
Persistent link: https://www.econbiz.de/10001435353