The effectiveness of central bank forward guidance under inflation and price-level targeting
نویسندگان
چکیده
منابع مشابه
Comparing Inflation and Price Level Targeting: the Role of Forward Guidance and Transparency
We examine global dynamics under learning in New Keynesian models with price level targeting that is subject to the zero lower bound. The role of forward guidance is analyzed under transparency about the policy rule. Properties of transparent and non-transparent regimes are compared to each other and to the corresponding cases of inflation targeting. Robustness properties for different regimes ...
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ژورنال
عنوان ژورنال: Journal of Macroeconomics
سال: 2018
ISSN: 0164-0704
DOI: 10.1016/j.jmacro.2017.10.008