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来源类型 | Working Paper |
规范类型 | 报告 |
DOI | 10.3386/w9747 |
来源ID | Working 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 |
URL | https://www.nber.org/papers/w9747 |
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/567371 |
推荐引用方式 GB/T 7714 | Lars E. O. Svensson,Michael Woodford. Implementing Optimal Policy through Inflation-Forecast Targeting. 2003. |
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 | ||
w9747.pdf(637KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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