Nominal Income Targeting: A Critical Evaluation
This paper evaluates the proposal that government authorities ought to target nominal income. It begins by viewing the literature in some detail. It then undertakes a theoretical analysis of the proposal first for the small country and next for the large country. There is then a general discussion o...
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1. Verfasser: | |
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
1991
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Schriftenreihe: | IMF Working Papers
Working Paper No. 91/92 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | This paper evaluates the proposal that government authorities ought to target nominal income. It begins by viewing the literature in some detail. It then undertakes a theoretical analysis of the proposal first for the small country and next for the large country. There is then a general discussion of various issues posed by nominal income targeting. Finally, the paper summarizes the empirical work to date. We show that traditional theoretical analysis tends to be too simple and overly biased in favor of nominal income targeting. When more realistic assumptions are made or econometric simulations are undertaken the case for nominal income targeting is substantially weakened but not, however, destroyed |
Beschreibung: | 1 Online-Ressource (114 p) |
ISBN: | 1451851553 9781451851557 |
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spelling | Argy, Victor E. Verfasser aut Nominal Income Targeting A Critical Evaluation Argy, Victor E Washington, D.C International Monetary Fund 1991 1 Online-Ressource (114 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 91/92 This paper evaluates the proposal that government authorities ought to target nominal income. It begins by viewing the literature in some detail. It then undertakes a theoretical analysis of the proposal first for the small country and next for the large country. There is then a general discussion of various issues posed by nominal income targeting. Finally, the paper summarizes the empirical work to date. We show that traditional theoretical analysis tends to be too simple and overly biased in favor of nominal income targeting. When more realistic assumptions are made or econometric simulations are undertaken the case for nominal income targeting is substantially weakened but not, however, destroyed Online-Ausg http://elibrary.imf.org/view/IMF001/04962-9781451851557/04962-9781451851557/04962-9781451851557.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Argy, Victor E. Nominal Income Targeting A Critical Evaluation |
title | Nominal Income Targeting A Critical Evaluation |
title_auth | Nominal Income Targeting A Critical Evaluation |
title_exact_search | Nominal Income Targeting A Critical Evaluation |
title_exact_search_txtP | Nominal Income Targeting A Critical Evaluation |
title_full | Nominal Income Targeting A Critical Evaluation Argy, Victor E |
title_fullStr | Nominal Income Targeting A Critical Evaluation Argy, Victor E |
title_full_unstemmed | Nominal Income Targeting A Critical Evaluation Argy, Victor E |
title_short | Nominal Income Targeting |
title_sort | nominal income targeting a critical evaluation |
title_sub | A Critical Evaluation |
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