| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4430 |
| DP4430 Heterogenous Wage Formation Under A Common Monetary Policy | |
| Torben M Andersen | |
| 发表日期 | 2004-06-23 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | We study empirically the macroeconomic effects of an explicit de jure quantitative goal for monetary policy. Quantitative goals take three forms: exchange rates, money growth rates, and inflation targets. We analyse the effects on inflation of both having a quantitative target, and of hitting a declared target; we also consider effects on output volatility. Our empirical work uses an annual dataset covering 42 countries between 1960 and 2000, and takes account of other determinants of inflation (such as fiscal policy, the business cycle, and openness to international trade), and the endogeneity of the monetary policy regime. We find that both having and hitting quantitative targets for monetary policy is systematically and robustly associated with lower inflation. The exact form of the monetary target matters somewhat, but is less important than having some quantitative target. Successfully achieving a quantitative monetary goal is also associated with less volatile output. |
| 主题 | International Macroeconomics |
| 关键词 | transparency Exchange Rate Money Growth inflation Target Business cycle |
| URL | https://cepr.org/publications/dp4430 |
| 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/533383 |
| 推荐引用方式 GB/T 7714 | Torben M Andersen. DP4430 Heterogenous Wage Formation Under A Common Monetary Policy. 2004. |
| 条目包含的文件 | 条目无相关文件。 | |||||
| 个性服务 |
| 推荐该条目 |
| 保存到收藏夹 |
| 导出为Endnote文件 |
| 谷歌学术 |
| 谷歌学术中相似的文章 |
| [Torben M Andersen]的文章 |
| 百度学术 |
| 百度学术中相似的文章 |
| [Torben M Andersen]的文章 |
| 必应学术 |
| 必应学术中相似的文章 |
| [Torben M Andersen]的文章 |
| 相关权益政策 |
| 暂无数据 |
| 收藏/分享 |
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
