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Finding new objectives, seeking new instruments
Cobham, David P. - 2024
This short paper use the perspective of the assignment problem to examine the evolution of the workings of monetary policy and the Monetary Policy Committee (MPC) of the Bank of England over its first 25 years. It outlines how the Bank, and the MPC, came across additional possible objectives and...
Persistent link: https://www.econbiz.de/10014471910
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How are inflation targets set?
Horváth, Roman; Matějů, Jakub - 2011
, suggesting that less credible central banks are likely to recognize the risks related to anchoring inflation expectations at low …
Persistent link: https://www.econbiz.de/10010322261
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Investigating inflation persistence across monetary regimes
Benati, Luca - 2008
Under inflation targeting inflation exhibits negative serial correlation in the United Kingdom, and little or no persistence in Canada, Sweden and New Zealand, and estimates of the indexation parameter in hybrid New Keynesian Phillips curves are either equal to zero, or very low, in all...
Persistent link: https://www.econbiz.de/10011604897
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Finding new objectives, seeking new instruments
Cobham, David - 2024
This short paper use the perspective of the assignment problem to examine the evolution of the workings of monetary policy and the Monetary Policy Committee (MPC) of the Bank of England over its first 25 years. It outlines how the Bank, and the MPC, came across additional possible objectives and...
Persistent link: https://www.econbiz.de/10014450407
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Inflation targets versus international monetary integration : a Canadian perspective
Laidler, David E. W. - 2002
The debate about Canadian-U.S. monetary integration is surveyed. The choice is among overall monetary orders,rather than exchange rate regimes and questions of policy credibility and political accountability are crucial. Canada's recent economic performance under inflation targets, and arguments...
Persistent link: https://www.econbiz.de/10011541166
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How are Inflation Targets Set?
Horvath, Roman; Mateju, Jakub - Česká Národní Banka - 2011
central banks are likely to recognize the risks related to anchoring inflation expectations at low levels. On the other hand …
Persistent link: https://www.econbiz.de/10009322933
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How Are Inflation Targets Set?
Horvath, Roman; Mateju, Jakub - Center for Economic Research and Graduate Education and … - 2010
, suggesting that less credible central banks are likely to recognize the risks related to anchoring inflation expectations at low …
Persistent link: https://www.econbiz.de/10008752383
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How Are Inflation Targets Set?
Horváth, Roman; Matějů, Jakub - Institut ekonomických studií, Univerzita Karlova v Praze - 2011
, suggesting that less credible central banks are likely to recognize the risks related to anchoring inflation expectations at low …
Persistent link: https://www.econbiz.de/10008784803
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Inflation and deflationary biases in inflation expectations
Lamla, Michael; Pfajfar, Damjan; Rendell, Lea - 2019
inflation and deflationary biases in inflation expectations. In a model with an occasionally binding zero-lower-bound constraint … of this model using unique individual-level inflation expectations data across nine countries that allow for a direct … identification of these biases. Both inflation and deflationary biases are present (and sizable) in inflation expectations of these …
Persistent link: https://www.econbiz.de/10012317310
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A new approach to assess inflation expectations anchoring using strategic surveys
Armantier, Olivier; Sbordone, Argia M.; Topa, Giorgio; … - 2022
We propose a new approach to assessing the anchoring of inflation expectations using "strategic surveys". Namely, we … measure households' revisions in long-run inflation expectations after they are presented with different economic scenarios. A …-run inflation expectations. We implement the method in the summer of 2019 and the spring-summer of 2021 when the anchoring of long …
Persistent link: https://www.econbiz.de/10013162104