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Foreign Demand for Domestic Currency and the Optimal Rate of Inflation

Schmitt-Grohé, Stephanie - 2009

foreign demand for its currency. In the absence of such demand, the model implies that the Friedman rule--deflation at the … foreign demand for domestic currency is taken into account, the Friedman rule ceases to be Ramsey optimal. Calibrated versions … of the model that match the range of empirical estimates of the size of foreign demand for U.S. currency deliver Ramsey …

Persistent link: https://www.econbiz.de/10012463155

Targets and Instruments of Monetary Policy

Friedman, Benjamin M. - 1988

The notion of targets and instruments is basic to the conceptual framework that economists have used to bring economic analysis to bear on practical issues of how central banks can and/or should conduct monetary policy. This paper surveys the literature of targets and instruments of monetary...

Persistent link: https://www.econbiz.de/10012476396

On Consequences and Criticisms of Monetary Targeting

McCallum, Bennett T. - 1985

The purpose of this paper is to review and evaluate the most important existing criticisms of policy strategies that feature adherence to money stock targets. Four main categories of criticism (and counterargumerits) are analyzed. The first of these involves the claim that accurate money stock...

Persistent link: https://www.econbiz.de/10012477486

Should Central Banks Raise their Inflation Targets? Some Relevant Issues

McCallum, Bennett T. - 2011

currency is feasible (even arguably attractive) and would remove the ZLB constraint on policy. (5) Increasing target inflation …

Persistent link: https://www.econbiz.de/10012461653

What If Alexander Hamilton Had Been Argentinean? A Comparison of the Early Monetary Experiences of Argentina and the United States

Bordo, Michael D. - 1998

The contrast between the early nineteenth century Argentinean experience of high inflation and the American experience of low inflation is interpreted in terms of a dynamic monetary model of optimal taxation. It is argued that the two countries' experiences diverged because of the different...

Persistent link: https://www.econbiz.de/10012471950

Optimal Price Indices for Targeting Inflation Under Incomplete Markets

Anand, Rahul - 2010

-constrained consumers' access to financial markets make demand insensitive to interest rate fluctuations. The demand of credit … price sector influence aggregate demand and, for monetary policy to have its desired effect, the central bank has to …

Persistent link: https://www.econbiz.de/10012462367

Monetary policy rules

Taylor, John B. (ed.) - 1999

Persistent link: https://www.econbiz.de/10001353848

Monetary policy rules : [papers based on the National Bureau of Economic Research Conference on Research in Business Cycles, held at Stanford University, 1998]

Taylor, John B. (ed.) - 2001 - Paperback ed.

Persistent link: https://www.econbiz.de/10001535296

The Swedish Experience of an Inflation Target

Svensson, Lars E.O. - 1995

The paper gives a brief account of the Swedish experience of an inflation target in a floating exchange rate regime; identifies, documents and discusses the current problems in Swedish monetary policy and their origins; considers what can be done to remedy the problems; and draws some general...

Persistent link: https://www.econbiz.de/10012473913

Money Stock Targeting, Base Drift and Price-Level Predictability : Lessons From the U.K. Experience

Bordo, Michael D. - 1989

) makes the price level more predictable in the presence of permanent shocks to money demand. Developing a procedure that does …

Persistent link: https://www.econbiz.de/10012476232

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