Compartir
Finance and Economics Discussion Series: Inflation Targeting Under Imperfect Knowledge (en Inglés)
John C. Williams
(Autor)
·
United States Federal Reserve Board
(Autor)
·
Athanasios Orphanides
(Autor)
·
Bibliogov
· Tapa Blanda
Finance and Economics Discussion Series: Inflation Targeting Under Imperfect Knowledge (en Inglés) - Orphanides, Athanasios ; Williams, John C. ; United States Federal Reserve Board
$ 25.99
$ 51.98
Ahorras: $ 25.99
Elige la lista en la que quieres agregar tu producto o crea una nueva lista
✓ Producto agregado correctamente a la lista de deseos.
Ir a Mis Listas
Origen: Estados Unidos
(Costos de importación incluídos en el precio)
Se enviará desde nuestra bodega entre el
Jueves 18 de Julio y el
Lunes 29 de Julio.
Lo recibirás en cualquier lugar de Ecuador entre 1 y 3 días hábiles luego del envío.
Reseña del libro "Finance and Economics Discussion Series: Inflation Targeting Under Imperfect Knowledge (en Inglés)"
A central tenet of inflation targeting is that establishing and maintaining well-anchored inflation expectations are essential. In this paper, we reexamine the role of key elements of the inflation targeting framework towards this end, in the context of an economy where economic agents have an imperfect understanding of the macroeconomic landscape within which the public forms expectations and policymakers must formulate and implement monetary policy. Using an estimated model of the U.S. economy, we show that monetary policy rules that would perform well under the assumption of rational expectations can perform very poorly when we introduce imperfect knowledge. We then examine the performance of an easily implemented policy rule that incorporates three key characteristics of inflation targeting: transparency, commitment to maintaining price stability, and close monitoring of inflation expectations, and find that all three play an important role in assuring its success. Our analysis suggests that simple difference rules in the spirit of Knut Wicksell excel at tethering inflation expectations to the central bank's goal and in so doing achieve superior stabilization of inflation and economic activity in an environment of imperfect knowledge.
- 0% (0)
- 0% (0)
- 0% (0)
- 0% (0)
- 0% (0)
Todos los libros de nuestro catálogo son Originales.
El libro está escrito en Inglés.
La encuadernación de esta edición es Tapa Blanda.
✓ Producto agregado correctamente al carro, Ir a Pagar.
