Policy futures markets with multiple goals

Previous work in monetary policy futures markets under a single policy goal have shown this approach to be effective at eliminating the circularity problem inherent with private-sector targeting strategies. We extend this monetary policy setting framework to a typical multiple goal policy objective: inflation and output stabilization. We also demonstrate how the prices in policy futures markets can help resolve debates over important policy questions.

MoreLess

Year of publication:	2010
Authors:	Jackson, Aaron L.
Published in:	Journal of Macroeconomics. - Elsevier, ISSN 0164-0704. - Vol. 32.2010, 1, p. 45-54
Publisher:	Elsevier
Keywords:	Policy futures market Forecast targeting Monetary targets Prediction markets Information markets

More details

Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008499073