| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2215 |
| DP2215 Nominal Contracts and Monetary Targets | |
| Patrick Minford; Eric Nowell; Bruce Webb | |
| 发表日期 | 1999-08-31 |
| 出版年 | 1999 |
| 语种 | 英语 |
| 摘要 | The so-called P* model is frequently used or referred to in discussions of monetary targeting. This gives the impression that the P* model might provide some rationale for monetary targeting or for the monetary reference value used by the Eurosystem. The P* model implies that inflation is determined by the level of and changes in the "real money gap" (the deviation of current real balances from their long-run equilibrium level), and hence that the real money gap is an important indicator for future inflation. Nevertheless, the P* model does not seem to provide any rationale for either a Bundesbank-style money-growth target or a Eurosystem-style money-growth indicator. |
| 主题 | International Macroeconomics |
| 关键词 | Inflation targeting Real balances Reference value |
| URL | https://cepr.org/publications/dp2215 |
| 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/531321 |
| 推荐引用方式 GB/T 7714 | Patrick Minford,Eric Nowell,Bruce Webb. DP2215 Nominal Contracts and Monetary Targets. 1999. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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