Inflation targeting: Should it be modeled as an instrument rule or a targeting rule?

被引：66
作者：
Svensson, LEO
机构：
[1] Princeton Univ, Dept Econ, Princeton, NJ 08544 USA
[2] CPER, London, England
[3] NBER, Cambridge, MA 02138 USA
来源：
EUROPEAN ECONOMIC REVIEW | 2002年 / 46卷 / 4-5期
关键词：
inflation targeting; monetary policy rules;
D O I：
10.1016/S0014-2921(01)00212-4
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The paper discusses how current inflation targeting should be modeled, and argues that it is better represented as a commitment to a targeting rule (a rule specifying operational objectives for monetary policy or a condition for the target variables), than as a commitment to a simple instrument rule (like a Taylor rule). (C) 2002 Elsevier Science B.V. All rights reserved.
引用
收藏
页码：771 / 780
页数：10
相关论文
共 22 条
[1]  
BALTENSPERGER E, 2001, ABSTAINING INFLATION
[2]  
BRASH DT, 2001, SPEECH CHRISTCH NZ J
[3]   Making monetary policy: Objectives and rules [J].
Cecchetti, SG .
OXFORD REVIEW OF ECONOMIC POLICY, 2000, 16 (04) :43-59
[4]  
CECCHETTI SG, 1998, CURRENT ISSUES MONET, P121
[5]   The science of monetary policy:: A new keynesian perspective [J].
Clarida, R ;
Galí, J ;
Gertler, M .
JOURNAL OF ECONOMIC LITERATURE, 1999, 37 (04) :1661-1707
[6]  
*FED RES BANK KANS, 1999, NEW CHALL MON POL
[7]  
*FED RES BANK KANS, 1996, ACH PRIC STAB
[8]  
GOODHART C, 2001, FEDERAL RESERVE BANK, V83, P165
[9]  
HEIKENSTEN L, 1999, SVERIGES RIKSBANK Q, V1, P5
[10]  
JUDD J, 1998, ECON REV, V3, P3
123