On Targeting Frameworks And Optimal Monetary Policy
We show that speed limit policy, a monetary policy strategy that focuses on stabilizing inflation and the change in the output gap, consistently outperforms flexible inflation targeting and flexible price level targeting in empirical medium-scale DSGE models under discretionary policymaking. In cont...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Blackwell Publishing Inc.
2019
|
| Subjects: | |
| Online Access: | View Fulltext in Publisher |