Bhattacharya, Joydeep; Singh, Rajesh Kumar - Iowa State University of Science and Technology <Ames, … - 2007
The tug-o-war for supremacy between inflation targeting and monetary tar-geting is a classic yet timely topic in … the nature of shocks, the optimal inflation target isalways positive. Under monetary targeting, shocks to endowment … on the elasticity of consumption substi-tution. Also, monetary targeting welfare-dominates inflation targeting but thegap …