| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP17289 |
| DP17289 What Should the Inflation Target Be? Views from 600 Economists | |
| Gene Ambrocio; Andrea Ferrero; Esa Jokivuolle; Kim Ristolainen | |
| 发表日期 | 2022-05-08 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | In a survey of more than 600 economists, most respondents prefer their central bank to have an explicit inflation target. Roughly half want the central bank to keep its current target. Two thirds of the rest want to raise the target, with a median preferred change of one percentage point. In a hypothetical scenario in which the central bank has no prior history of inflation targeting, an additional 12% of the respondents would prefer a different (typically higher) target than the current one. This result suggests that the costs of changing the current target hold some respondents back from wanting an actual target change. Respondents who are worried about the central bank credibility are less likely to support a target raise. Conversely, preference for a target raise is more likely to come from those who are concerned about the zero lower bound on the nominal interest rate. The average estimate of the equilibrium real interest rate in the sample is 0.6%. However, personal views about the equilibrium real interest rate do not predict a preference for a target raise. |
| 主题 | Monetary Economics and Fluctuations |
| 关键词 | Expert survey Inflation target monetary policy |
| URL | https://cepr.org/publications/dp17289 |
| 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/546309 |
| 推荐引用方式 GB/T 7714 | Gene Ambrocio,Andrea Ferrero,Esa Jokivuolle,et al. DP17289 What Should the Inflation Target Be? Views from 600 Economists. 2022. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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