Arbeitspapier
In noise we trust? Optimal monetary policy with random targets
We show that a monetary policy in which the central bank commits to a randomized inflation target allows for potentially faster-expectations convergence than with a fixed target. The randomized target achieves faster convergence in particular in transition environments: those demonstrating either particularly high or low inflation.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Papers ; No. 06-14
- Klassifikation
-
Wirtschaft
Monetary Policy
Policy Objectives; Policy Designs and Consistency; Policy Coordination
Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systems
- Thema
-
Monetary policy
asymmetric information
Bayesian rational expectations
commitment
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Cohen-Cole, Ethan
Cosmaciuc, Bogdan
- Ereignis
-
Veröffentlichung
- (wer)
-
Federal Reserve Bank of Boston
- (wo)
-
Boston, MA
- (wann)
-
2006
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 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
- Cohen-Cole, Ethan
- Cosmaciuc, Bogdan
- Federal Reserve Bank of Boston
Entstanden
- 2006
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