Arbeitspapier
Would price-level targeting destabilise the economy?
When indexation is endogenous price level targeting slightly adds to economic stability, contrary to widespread fears to the contrary. The aggregate supply curve flattens and the aggregate demand curve steepens, increasing stability in the face of supply shocks.
- Language
-
Englisch
- Bibliographic citation
-
Series: Cardiff Economics Working Papers ; No. E2005/12
- Classification
-
Wirtschaft
Price Level; Inflation; Deflation
Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systems
Monetary Policy
- Subject
-
Inflation
targeting
price-level rule
Price level target
indexation
monetary regime
endogenous contracts
stationarity
stability
- Event
-
Geistige Schöpfung
- (who)
-
Minford, Patrick
Nowell, Eric
Webb, Bruce
- Event
-
Veröffentlichung
- (who)
-
Cardiff University, Cardiff Business School
- (where)
-
Cardiff
- (when)
-
2005
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Minford, Patrick
- Nowell, Eric
- Webb, Bruce
- Cardiff University, Cardiff Business School
Time of origin
- 2005
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