Add to ORKGAn analysis of the sources and costs of unpredictable inflation, finding that the uncertainty stems from a lack of appropriate constraints on the monetary policy process, and that the costs could be sharply reduced by adopting a policy that targets a long-run path for the price level.Inflation (Finance) ; Prices
Monetary policy has come a long way in the past quarter century. Price stability has always been par...
The primary objective of most of the world's central banks these days is to keep inflation low, and ...
This paper reviews the inflation experience in the post-Bretton Woods era in the context of alternat...
Long-run price stability is generally considered to be a primary goal of monetary policymakers in ma...
Monetary policy rules help central banks exercise the discipline necessary to achieve their long-ter...
This paper considers the problem of optimal long run monetary policy. It shows that optimal inflatio...
In stark contrast to the previous literature, we find that IT leads to price indeterminacy even when...
In stark contrast to the previous literature, we find that IT leads to price indeterminacy even when...
From page 323 -- 'The standard, quantity-theoretic approach to the price level is based on a transac...
In theory, monetary policies that target the price level, as opposed to the inflation rate, should b...
This paper quantifies some of the general equilibrium costs of inflation for the UK using a shopping...
Central banks now generally agree that conventional monetary aggregates are of little use as targets...
Many traditional macroeconomic models do not have determinate predictions for the path of inflation:...
As inflation rates in the United States decline, analysts are asking if there are economic reasons t...
This paper shows that it is possible to analyze equilibrium inflation determination without any refe...
Monetary policy has come a long way in the past quarter century. Price stability has always been par...
The primary objective of most of the world's central banks these days is to keep inflation low, and ...
This paper reviews the inflation experience in the post-Bretton Woods era in the context of alternat...
Long-run price stability is generally considered to be a primary goal of monetary policymakers in ma...
Monetary policy rules help central banks exercise the discipline necessary to achieve their long-ter...
This paper considers the problem of optimal long run monetary policy. It shows that optimal inflatio...
In stark contrast to the previous literature, we find that IT leads to price indeterminacy even when...
In stark contrast to the previous literature, we find that IT leads to price indeterminacy even when...
From page 323 -- 'The standard, quantity-theoretic approach to the price level is based on a transac...
In theory, monetary policies that target the price level, as opposed to the inflation rate, should b...
This paper quantifies some of the general equilibrium costs of inflation for the UK using a shopping...
Central banks now generally agree that conventional monetary aggregates are of little use as targets...
Many traditional macroeconomic models do not have determinate predictions for the path of inflation:...
As inflation rates in the United States decline, analysts are asking if there are economic reasons t...
This paper shows that it is possible to analyze equilibrium inflation determination without any refe...
Monetary policy has come a long way in the past quarter century. Price stability has always been par...
The primary objective of most of the world's central banks these days is to keep inflation low, and ...
This paper reviews the inflation experience in the post-Bretton Woods era in the context of alternat...