Inflation Targeting with NAIRU Uncertainty and Endogenous Policy Credibility

Inflation Targeting with NAIRU Uncertainty and Endogenous Policy Credibility
Stochastic simulations are employed to compare performance of monetary policy rules in linear and nonlinear variants of a small macro model with NAIRU uncertainity under different assumptions about the way inflation expectations are formed. Cases in which policy credibility is ignored or treated as exogenous are distinguished from cases in which... READ MORE...

Publication date: January 2001
ISBN 9781451842418
$15.00

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