| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1951 |
| DP1951 Patents in a Model of Endogenous Growth | |
| Josef Zweimüller; Edward O'Donoghue | |
| 发表日期 | 1998-08-31 |
| 出版年 | 1998 |
| 语种 | 英语 |
| 摘要 | The establishment of the European Central Bank (ECB) presents a rare opportunity to define the operations of a central bank with no prior track record. Before the ECB specifies an, as yet undefined, operational target this paper asks what might be learnt from the recent experience of inflation targeting at the Bank of England. We consider whether there should be single or multiple targets and which, if any, of the existing inflation measures should be used. If inflation is targeted then a forecast of its value becomes the intermediate variable. This raises both the issue of transparency and the issue of providing a compensating supply of information material necessary to fill the gap, but too much ?openness? can also be problematic. The ECB must be accountable and the contracting approach may be useful, but being seen to ?say? and ?do? the same thing is ultimately of the most importance. |
| 主题 | International Macroeconomics |
| 关键词 | Accountability Bank of england Central bank Ecb Inflation targeting |
| URL | https://cepr.org/publications/dp1951 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531084 |
| 推荐引用方式 GB/T 7714 | Josef Zweimüller,Edward O'Donoghue. DP1951 Patents in a Model of Endogenous Growth. 1998. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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