Inflation targeting: Should it be modeled as an instrument rule or a targeting rule?
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چکیده
منابع مشابه
In ‡ ation Targeting : Should It Be Modeled as an Instrument Rule or a Targeting Rule ? ¤
The paper discusses how current in ‡ation targeting should be modeled, and argues that it is better represented as a commitment to a targeting rule (a rule specifying operational objectives for monetary policy or a condition for the target variables), than as a commitment to a simple instrument rule (like a Taylor rule).
متن کاملIn ‡ ation Targeting : Should It Be Modeled as an Instrument Rule or a Targeting Rule ? ¤ Lars
The paper discusses how current in ‡ation targeting should be modeled, and argues that it is better represented as a commitment to a targeting rule (a rule specifying operational objectives for monetary policy or a condition for the target variables), than as a commitment to a simple instrument rule (like a Taylor rule).
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The purpose of the paper is to survey and discuss ination targeting in the context of monetary policy rules. The paper provides a general conceptual discussion of monetary policy rules, attempts to clarify the essential characteristics of ination targeting, compares ination targeting to other monetary policy rules, and draws some conclusions for the monetary policy of the European System of ...
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ژورنال
عنوان ژورنال: European Economic Review
سال: 2002
ISSN: 0014-2921
DOI: 10.1016/s0014-2921(01)00212-4