Verfügbarkeit: Inflation Targeting and Output Stability

Inflation Targeting and Output Stability:

This paper reexamines the effects of inflation targeting on output stability. It considers an economy with staggered price setting that is exposed to price shocks and where the policymaker cannot observe the current realizations of aggregate output and inflation. The paper shows that, if some price...

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1. Verfasser:	Jadresic, Esteban (VerfasserIn)
Format:	Elektronisch E-Book
Sprache:	English
Veröffentlicht:	Washington, D.C International Monetary Fund 1999
Schriftenreihe:	IMF Working Papers Working Paper No. 99/61
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 reexamines the effects of inflation targeting on output stability. It considers an economy with staggered price setting that is exposed to price shocks and where the policymaker cannot observe the current realizations of aggregate output and inflation. The paper shows that, if some price shocks can be anticipated, the effects of inflation targeting depend critically on the inflation indicator being targeted. Specifically, targeting headline inflation can severely destabilize output, while targeting inflation indicator of sticky prices may eliminate that problem and make the response of the output gap to aggregate shocks short-lived
Beschreibung:	1 Online-Ressource (39 p)
ISBN:	1451848153 9781451848151

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spelling	Jadresic, Esteban Verfasser aut Inflation Targeting and Output Stability Jadresic, Esteban Washington, D.C International Monetary Fund 1999 1 Online-Ressource (39 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 99/61 This paper reexamines the effects of inflation targeting on output stability. It considers an economy with staggered price setting that is exposed to price shocks and where the policymaker cannot observe the current realizations of aggregate output and inflation. The paper shows that, if some price shocks can be anticipated, the effects of inflation targeting depend critically on the inflation indicator being targeted. Specifically, targeting headline inflation can severely destabilize output, while targeting inflation indicator of sticky prices may eliminate that problem and make the response of the output gap to aggregate shocks short-lived Online-Ausg http://elibrary.imf.org/view/IMF001/03567-9781451848151/03567-9781451848151/03567-9781451848151.xml Verlag URL des Erstveröffentlichers Volltext
spellingShingle	Jadresic, Esteban Inflation Targeting and Output Stability
title	Inflation Targeting and Output Stability
title_auth	Inflation Targeting and Output Stability
title_exact_search	Inflation Targeting and Output Stability
title_exact_search_txtP	Inflation Targeting and Output Stability
title_full	Inflation Targeting and Output Stability Jadresic, Esteban
title_fullStr	Inflation Targeting and Output Stability Jadresic, Esteban
title_full_unstemmed	Inflation Targeting and Output Stability Jadresic, Esteban
title_short	Inflation Targeting and Output Stability
title_sort	inflation targeting and output stability
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