Search Results - subject:"in.ation targeting"

Davig, Troy; Foerster, Andrew - 2021

Persistent link: https://www.econbiz.de/10012548634

The impact of inflation targeting : testing the good luck hypothesis

Ravenna, Federico; Ingholt, Marcus Mølbak - 2020

Starting in the mid 1980s, the level and volatility of inflation decreased across industrial countries. The inflation stabilization can be explained by a shift in monetary policy or by a lucky period of low volatility in business cycle shocks. To test the "good luck hypothesis", we examine the...

Persistent link: https://www.econbiz.de/10012175504

Endogenous Fluctuations in an Endogenous Growth Model with Ination Targeting

Gupta, Rangan; Stander, Lardo - Institut de Préparation à l'Administration et à la … - 2014

- specically lagged capital inputs - and an in ation targeting monetary authority, and analyses the growth dynamics that emerge … targeting regime. Conversely, when the monetary authority follows a low in ation targeting regime, oscillations do not occur … could emerge around the high-growth equilibrium in the growth path where the monetary au- thority follows a high in ation …

Persistent link: https://www.econbiz.de/10011161641

Constant interest rate projections without the curse of indeterminacy

Galí, Jordi - Department of Economics and Business, Universitat … - 2007

Constant interest rate (CIR) projections are often criticized on the grounds that they are inconsistent with the existence of a unique equilibrium in a variety of forward-looking models. This note shows how to construct CIR projections that are not subject to that criticism, using a standard New...

Persistent link: https://www.econbiz.de/10005772117

Price stability and monetary policy effectiveness when nominal interest rates are bounded at zero

Coenen, Günter; Orphanides, Athanasios; Wieland, Volker - European Central Bank - 2003

This paper employs stochastic simulations of a small structural rational expectations model to investigate the consequences of the zero bound on nominal interest rates. We find that if the economy is subject to stochastic shocks similar in magnitude to those experienced in the U.S. over the...

Persistent link: https://www.econbiz.de/10004999743

Trend inflation, endogenous mark-ups and the non-vertical Phillips curve

Bartolomeo, Giovanni Di; Tirelli, Patrizio; Acocella, Nicola - Dipartimento di Economia, Metodi Quantitativi e … - 2010

Recent developments in macroeconomics resurrect the view that wel- fare costs of inflation arise because the latter acts as a tax on money balances. Empirical contributions show that wage re-negotiations take place while expiring contracts are still in place. Bringing these seemingly unrelated...

Persistent link: https://www.econbiz.de/10008587729