Maximizing price stability in a monetary economy

In this paper we analyze options for the European Central Bank (ECB) to achieve its single mandate of price stability. Viable options for price stability are described, analyzed, and tabulated with regard to both short- and long-term stability and volatility. We introduce an additional tool for promoting price stability and conclude that public purpose is best served by the selection of an alternative buffer stock policy that is directly managed by the ECB.

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Year of publication:	2016
Authors:	Mosler, Warren ; Silipo, Damiano Bruno
Publisher:	Annandale-on-Hudson, NY : Levy Economics Institute of Bard College
Subject:	European Central Bank \| Monetary Policy Tools and Price Stability \| Buffer Stock Policy

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Series:	Working Paper ; 864
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	857210289 [GVK] hdl:10419/173473 [Handle] RePEc:lev:wrkpap:wp_864 [RePEc]
Classification:	E52 - Monetary Policy (Targets, Instruments, and Effects) ; E58 - Central Banks and Their Policies
Source:	EconStor

Persistent link: https://www.econbiz.de/10011784654