The Instrument-Rate Projection under Inflation Targeting: The Norwegian Example

The introduction of inflation targeting has led to major progress in practical monetary policy. Recent debate has focused on the interest-rate assumption underlying published projections of inflation and other target variables. This paper discusses the role of alternative interest-rate paths in the monetary-policy decision process and the recent publication by Norges Bank (the central bank of Norway) of optimal interest-rate projections with fan charts.

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Year of publication:	2006-05
Authors:	Svensson, Lars E.O.
Institutions:	Griswold Center for Economic Policy Studies, Department of Economics
Subject:	Forecasts \| flexible inflation targeting \| optimal monetary policy

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Series:	Working Papers.
Type of publication:	Book / Working Paper
Notes:	Number 75
Classification:	E42 - Monetary Systems; Standards; Regimes; Government and the Monetary System ; E52 - Monetary Policy (Targets, Instruments, and Effects) ; E58 - Central Banks and Their Policies
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011149962