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来源类型 | Working Paper |
规范类型 | 报告 |
DOI | 10.3386/w7179 |
来源ID | Working Paper 7179 |
Eurosystem Monetary Targeting: Lessons from U.S. Data | |
Glenn D. Rudebusch; Lars E.O. Svensson | |
发表日期 | 1999-06-01 |
出版年 | 1999 |
语种 | 英语 |
摘要 | Using a small empirical model of inflation, output, and money estimated on U.S. data, we compare the relative performance of monetary targeting and inflation targeting. The results show that monetary targeting would be quite inefficient, with both higher inflation and output variability. This is true even with a deterministic money demand formulation. In this framework, there is thus no support for the prominent role given to money growth in the Eurosystem's monetary policy strategy. |
主题 | Macroeconomics ; Money and Interest Rates ; Monetary Policy |
URL | https://www.nber.org/papers/w7179 |
来源智库 | National Bureau of Economic Research (United States) |
引用统计 | |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/564713 |
推荐引用方式 GB/T 7714 | Glenn D. Rudebusch,Lars E.O. Svensson. Eurosystem Monetary Targeting: Lessons from U.S. Data. 1999. |
条目包含的文件 | ||||||
文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
w7179.pdf(297KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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