G2TT
来源类型Discussion paper
规范类型论文
来源IDDP3924
DP3924 Families as Shocks
Luis Cubeddu
发表日期2003-06-23
出版年2003
语种英语
摘要One approach to achieving price stability is to undertake a deliberate path to an ultimate goal of low inflation - deliberate disinflation. In contrast an opportunistic strategy for disinflation has gained credence in recent years. We compare the ability of the two approaches to achieve macroeconomic stability and conclude that the opportunistic approach is sub-optimal when a commitment mechanism is in place. We show that an opportunistic inflation response is, however, optimal when there is a non-linearity of the Phillips curve trade-off along with adaptive expectations- circumstances that appear unlikely in conditions of low inflation.
主题International Macroeconomics
关键词Deliberate disinflation Opportunistic disinflation Loss function
URLhttps://cepr.org/publications/dp3924
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/532909
推荐引用方式
GB/T 7714
Luis Cubeddu. DP3924 Families as Shocks. 2003.
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