Nominal income targeting versus money growth targeting in an endogenously growing economy

被引：4

作者：

Lai, CC ^{[1
]}

Chen, SH

Shaw, MF

机构：

[1] Acad Sinica, Inst Econ, Taipei 115, Taiwan

[2] Natl Taiwan Univ, Dept Econ, Taipei 100, Taiwan

[3] Shih Chien Univ, Dept Int Trade, Taipei 104, Taiwan

[4] Tamkang Univ, Dept Ind Econ, Taipei 251, Taiwan

来源：

ECONOMICS LETTERS | 2005年 / 86卷 / 03期

关键词：

nominal income targeting; money growth targeting; endogenous growth; indeterminacy;

D O I：

10.1016/j.econlet.2004.08.005

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We find that local indeterminacy more easily emerges under a regime of nominal income targeting. Both targeting regimes are equally effective in influencing economic growth and inflation. The results thus favor money growth over nominal income as a nominal anchor. (c) 2004 Elsevier B.V. All rights reserved.

引用

页码：359 / 366

页数：8

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