Inflation targeting versus nominal income targeting

In this paper the authors analyze flexible inflation targeting and nominal income targeting as two different monetary strategies in a simple dynamic macromodel. The key results of this paper are: first, for both targeting regimes optimal monetary policy response leads to a shock-dependent feedback r...

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Bibliographische Detailangaben
1. Verfasser:	Frisch, Helmut (VerfasserIn)
Weitere Verfasser:	Staudinger, Sylvia (VerfasserIn)
Format:	UnknownFormat
Sprache:	eng
Veröffentlicht:	Munich Univ., Center for Economic Studies 2000
Schriftenreihe:	CESifo working paper series 301
Schlagworte:	Geldpolitisches Ziel > Inflationssteuerung > Nationaleinkommen > Vergleich > Wirkungsanalyse > Postkeynesianismus > Schock > Theorie > Arbeitspapier > Graue Literatur
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Zusammenfassung:	In this paper the authors analyze flexible inflation targeting and nominal income targeting as two different monetary strategies in a simple dynamic macromodel. The key results of this paper are: first, for both targeting regimes optimal monetary policy response leads to a shock-dependent feedback rule. Second, a demand shock is completely offset by both monetary strategies. Third, in case of supply shock there is a significant difference between the two different targeting regimes.
Beschreibung:	Literaturverz. S. 17 - 18 Auch im Internet unter der Adresse ftp://129.187.96.124/CESifo_WP/301.pdf verfügbar
Beschreibung:	18 S graph. Darst