Coenen, Günter; Wieland, Volker - Center for Financial Studies - 2004
qualitative findings. We find that both proposals succeed in generating inflationary expectations and work almost equally well … expectations and work almost equally well under full credibility of
monetary policy. However, price-level targeting may be less …
expectations, nominal rigidities, exchange rates
Non-technical summary
Researchers, practitioners and policymakers alike have …