Inflation Targeting with NAIRU Uncertainty and Endogenous Policy Credibility /

Stochastic simulations are employed to compare performance of monetary policy rules in linear and nonlinear variants of a small macro model with NAIRU uncertainity under different assumptions about the way inflation expectations are formed. Cases in which policy credibility is ignored or treated as...

Täydet tiedot

Bibliografiset tiedot
Päätekijä: Isard, Peter
Muut tekijät: Eliasson, Ann-Charlotte, Laxton, Douglas
Aineistotyyppi: Aikakauslehti
Kieli:English
Julkaistu: Washington, D.C. : International Monetary Fund, 2001.
Sarja:IMF Working Papers; Working Paper ; No. 2001/007
Linkit:Full text available on IMF
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100 1 |a Isard, Peter. 
245 1 0 |a Inflation Targeting with NAIRU Uncertainty and Endogenous Policy Credibility /  |c Peter Isard, Douglas Laxton, Ann-Charlotte Eliasson. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2001. 
300 |a 1 online resource (41 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a Stochastic simulations are employed to compare performance of monetary policy rules in linear and nonlinear variants of a small macro model with NAIRU uncertainity under different assumptions about the way inflation expectations are formed. Cases in which policy credibility is ignored or treated as exogenous are distinguished from cases in which credibility and inflation expectations respond endogenuously policy credibility strengthens the case for forward-looking inflation forecast based rules relative to backward-looking Taylor rules. 
538 |a Mode of access: Internet 
700 1 |a Eliasson, Ann-Charlotte. 
700 1 |a Laxton, Douglas. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2001/007 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2001/007/001.2001.issue-007-en.xml  |z IMF e-Library