Showing 1 - 10 of 79
Temporary supply factors may boost some commodity prices—a drought in the Midwest can jolt food costs, or a conflict in the Middle East might propel oil higher. These, in turn, can increase the overall consumer price index (CPI) and the headline inflation rate. ; Because central bank...
Persistent link: https://www.econbiz.de/10009416014
Persistent link: https://www.econbiz.de/10005361358
Persistent link: https://www.econbiz.de/10005367573
In remarks made before the Federal Reserve Bank of Kansas City's 1996 symposium, Achieving Price Stability, Mr. King discussed how quickly a central bank should reduce inflation to its desired level following an inflationary episode. He argued that a central bank is unlikely to wish to move...
Persistent link: https://www.econbiz.de/10005373482
Persistent link: https://www.econbiz.de/10005078061
Persistent link: https://www.econbiz.de/10005078093
This paper uses Whiteman's(1986) frequency-domain optimization methodology to parameterize the precommitment period in a standard rational expectations policy design model. This allows researchers to adopt an empirical approach to the time consistency issue. That is, the operative commitment...
Persistent link: https://www.econbiz.de/10005078309
Persistent link: https://www.econbiz.de/10005346089