Performance of Inflation Targeting Based on Constant Interest Rate Projections
نویسندگان
چکیده
منابع مشابه
Performance of Inflation Targeting Based On Constant Interest Rate Projections∗
Monetary policy is sometimes formulated in terms of a target level of inflation, a fixed time horizon and a constant interest rate that is anticipated to achieve the target at the specified horizon. These requirements lead to constant interest rate (CIR) instrument rules. Using the standard New Keynesian model, it is shown that some forms of CIR policy lead to both indeterminacy of equilibria a...
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Monetary policy is sometimes formulated in terms of a target level of inflation, a fixed time horizon and a constant interest rate that is anticipated to achieve the target at the specified horizon under rational expectations These requirements lead to instrument rules for interest rate setting that can be called CIP (constant interest rate projections) rules. We consider the twin questions of ...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2003
ISSN: 1556-5068
DOI: 10.2139/ssrn.477822