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Economic performance under price stability
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This article is published in Research Papers in Economics.The article was published on 1992-01-01 and is currently open access. It has received 87 citations till now. The article focuses on the topics: Producer price index & Mid price.read more
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Journal ArticleDOI
Inflation Targeting: A New Framework for Monetary Policy?
TL;DR: Inflation targeting as discussed by the authors is a new strategy for monetary policy known as "inflation targeting," which has sparked much interest and debate among central bankers and monetary economists in recent years, characterized by the announcement of official target ranges for the inflation rate at one or more horizons, and explicit acknowledgment that low and stable inflation is the overriding goal of monetary policy.
Posted Content
Price Level Targeting vs. Inflation Targeting: A Free Lunch?
TL;DR: In this article, the authors compare price level targeting and inflation targeting under commitment and discretion, with persistence in unemployment, and show that under discretion, a price level target results in lower inflation variability than an inflation target (if unemployment is at least moderately persistent).
ReportDOI
Price Level Targeting vs. Inflation Targeting: A Free Lunch?
TL;DR: In this article, the authors compare price level targeting and inflation targeting under commitment and discretion, with persistence in unemployment, and show that under discretion, a price level target results in lower inflation variability than an inflation target (if unemployment is at least moderately persistent).
Book ChapterDOI
Chapter 32 Perspectives on PPP and long-run real exchange rates
Kenneth A. Froot,Kenneth Rogoff +1 more
TL;DR: In this paper, the authors present an overview of the long-run determinants of purchasing power parity (PPP), including the supply-side determinants emphasized in the popular Balassa-Samuelson model.
ReportDOI
The Consumer Price Index as a Measure of Inflation
TL;DR: In this article, the authors examine the potential bias that results from the expenditure-based weighting scheme the CPI employs (weighting bias) and from persistent errors in measuring certain prices (measurement bias).