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Persistent link: https://www.econbiz.de/10003731342
This paper compares the performance of simple inflation targeting (IT) and price-level path targeting (PLPT) rules to stabilize the macroeconomy, in response to a series of shocks, similar to those seen in Canada and the United States over the 1983 to 2004 period. The analysis is conducted in a...
Persistent link: https://www.econbiz.de/10003711669
There appears to be a disconnect between the importance of the zero bound on nominal interest rates in the real-world and predictions from quantitative DSGE models. Recent economic events have reinforced the relevance of the zero bound for monetary policy whereas quantitative models suggest that...
Persistent link: https://www.econbiz.de/10003933335
Persistent link: https://www.econbiz.de/10003549223
Persistent link: https://www.econbiz.de/10009693608