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This paper reviews the theory of optimal monetary stabilization policy, with an emphasis on developments since the …
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This paper reviews the theory of optimal monetary stabilization policy, with an emphasis on developments since the …
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We examine to what extent variants of inflation-forecast targeting can avoid stabilization bias, incorporate history-dependence, and achieve determinancy of equilibrium, so as to reproduce a socially optimal equilibrium. We also evaluate these variants in terms of the transparency of the...
Persistent link: https://www.econbiz.de/10013246481
We examine to what extent variants of inflation-forecast targeting can avoid stabilization bias, incorporate history-dependence, and achieve determinancy of equilibrium, so as to reproduce a socially optimal equilibrium. We also evaluate these variants in terms of the transparency of the...
Persistent link: https://www.econbiz.de/10012468951