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来源类型Working Paper
规范类型报告
DOI10.3386/w9747
来源IDWorking Paper 9747
Implementing Optimal Policy through Inflation-Forecast Targeting
Lars E. O. Svensson; Michael Woodford
发表日期2003-06-02
出版年2003
语种英语
摘要We examine to what extent variants of inflation-forecast targeting can avoid stabilization bias, incorporate history-dependence, and achieve determinancy of equilibrium, so as to reproduce a socially optimal equilibrium. We also evaluate these variants in terms of the transparency of the connection with the ultimate policy goals and the robustness to model perturbations. A suitably designed inflation-forecast targeting rule can achieve the social optimum and at the same time have a more transparent connection to policy goals and be more robust than competing instrument rules.
主题Macroeconomics ; Money and Interest Rates ; Monetary Policy
URLhttps://www.nber.org/papers/w9747
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/567371
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GB/T 7714
Lars E. O. Svensson,Michael Woodford. Implementing Optimal Policy through Inflation-Forecast Targeting. 2003.
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