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 shocks can be anticipated, the effects of... READ MORE...

Publication date: April 1999
ISBN 9781451848151
$15.00

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