Arbeitspapier
Inflation Targeting Rules: History-Dependent or Forwarding-Looking?
This paper discusses the optimal use of inflation forecasts in an inflation targeting setting with reaction and implementation lags. It distinguishes between the optimality of history-dependence versus forward-lookingness in monetary policymaking. It is shown that monetary policy strategy is inverted relative to private sector pricing behaviour: if private sector price setting is backward-looking, policy should be forward-looking, and vice versa.
- ISBN
-
82-7553-201-9
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 2002/10
- Klassifikation
-
Wirtschaft
Monetary Policy
Policy Objectives; Policy Designs and Consistency; Policy Coordination
- Thema
-
monetary policy
targeting rule
optimal horizon
history dependence
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Leitemo, Kai
- Ereignis
-
Veröffentlichung
- (wer)
-
Norges Bank
- (wo)
-
Oslo
- (wann)
-
2002
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Leitemo, Kai
- Norges Bank
Entstanden
- 2002
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