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The primary goal of monetary policy : reflections on the nature of the problem

Hetmańczuk, Adam - In: Central European review of economics and management : CEREM 5 (2021) 1, pp. 77-101

Aim: In this article, the state of the discourse concerning the final goal of the modern central bank is presented, in particular the aim of price stability, understood as low and stable inflation. Design/Research methods: The article was prepared on the basis of scientific publications in the...

Persistent link: https://www.econbiz.de/10013198396

Anticipation of central banks' adoption of inflation targeting and its effect on inflation

Dubey, Amlendu Kumar; Mishra, Akanksha - In: Central Bank review / Central Bank of the Republic of Turkey 23 (2023) 2, pp. 1-13

We construct an empirical test of whether the anticipation of adoption of inflation targeting affects the inflation rate. We observe that most of the central banks adopt the regime after first achieving significant disinflation. With pre-inflation-targeting-disinflation, initial targets are met...

Persistent link: https://www.econbiz.de/10014364299

Monetary policy under inflation targeting: lessons from industrial and emerging countries

Aliqoriev, Olimkhon; Khamidov, Khalilillo - Volkswirtschaftliche Fakultät, … - 2014

This article focuses on inflation targeting (hereafter IT) as a superior monetary policy strategy for attaining price stability, and its theoretical framework, prerequisites to introduce. The article analyses benefits and costs of adoption of inflation targeting and also examines the IT...

Persistent link: https://www.econbiz.de/10011113326

Inflation Reports and Models : How Well Do Central Banks Really Write?

Bulíř, Aleš - 2014

We offer a novel methodology for assessing the quality of inflation reports. In contrast to the existing literature, which mostly evaluates the formal quality of these reports, we evaluate their economic content by comparing inflation factors reported by the central banks with ex-post...

Persistent link: https://www.econbiz.de/10013051913

The determinants of consumers' inflation expectations : evidence from the US and Canada

Bellemare, Charles; Kpekou Tossou, Rolande C. B.; … - 2020 - Last updated: November 30, 2020

We propose and estimate a dynamic and individual model of expectations formation that links individual consumers’ inflation expectations to their own lagged forecasts as well as proxies for the rational expectation forecasts. The model builds on the existing rational inattention literature and...

Persistent link: https://www.econbiz.de/10012322148

Fed Speak on Main Street : Central Bank Communication and Household Expectations

Binder, Carola - 2017

Central banks emphasize the use of communication as a tool of monetary policy. As central banks increasingly recognize … tailor their communication strategies for a broader audience. Most research focuses on central bank communication with … financial markets, but several recent strands of literature address aspects of communication with households. I survey the …

Persistent link: https://www.econbiz.de/10012969118

Seeing and hearing is believing : the role of audiovisual communication in shaping inflation expectations

Ash, Elliott; Mikosch, Heiner; Perakis, Alexis; … - 2024

This paper presents novel causal evidence on the relationship between various communication channels employed by … communication matters, holding the target message constant: Relative to a text transcript, audiovisual mediums (audio, photograph …

Persistent link: https://www.econbiz.de/10014471991

Decizia de politică monetară – între teorie şi intuiţie

Napoleon, Pop - In: Revista OEconomica (2008) 04

The monetary policy decision, as any other decision, is the product of a procedure assembling a lot of primary information, but also what type of other ingredients contribute finally to a certain monetary policy decision.

Persistent link: https://www.econbiz.de/10008464218

Should Canadian monetary policy respond to asset prices? Evidence from a structural model

FIodendji, Komlan - Volkswirtschaftliche Fakultät, … - 2011

Although the Bank of Canada admits asset prices are considered in its policy deliberations because of their effects on inflation or output gap, the Bank of Canada denies trying to stabilize asset prices around fundamental values. However, since the start of the Bank of Canada we have seen a boom...

Persistent link: https://www.econbiz.de/10008794669

Definition of price stability, range and point inflation targets

Castelnuovo, Efrem; Nicoletti-Altimari, Sergio; … - 2003

Announcing a quantitative objective for price developments has become a common practice in modern monetary policy making. While the specific features of such announced objectives vary across countries, a common rationale for this is to help anchoring inflation expectations. We use survey data on...

Persistent link: https://www.econbiz.de/10009635904

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