A Comparative Analysis of the Stabilizing Properties of Nominal Income Growth Targeting

Given highly persistent cost-push shocks, the relative performance of nominal income growth targeting depends critically on the size of two key parameters. Barring extreme preferences, nominal income growth targeting performs fairly well relative to commitment and pure discretion for small values of the Phillips Curve parameter.

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Year of publication:	2006-10-01
Authors:	Guender, Alfred V.
Institutions:	Department of Economics and Finance, College of Business and Economics
Subject:	Nominal Income Growth Targeting \| Timeless Perspective \| Discretion \| Standard Commitment

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Extent:	application/pdf
Series:	Working Papers in Economics.
Type of publication:	Book / Working Paper
Language:	English
Notes:	10 pages
Classification:	E3 - Prices, Business Fluctuations, and Cycles ; E5 - Monetary Policy, Central Banking and the Supply of Money and Credit
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005196638