The optimal perception of inflation persistence is zero

被引：4

作者：

Leitemo, Kai ^{[1
]}

机构：

[1] Norwegian Sch Management BI, N-0442 Oslo, Norway

来源：

SCANDINAVIAN JOURNAL OF ECONOMICS | 2007年 / 109卷 / 01期

关键词：

monetary policy; time inconsistency; inflation persistence; MONETARY-POLICY; TARGETING RULES;

D O I：

10.1111/j.1467-9442.2007.00483.x

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This study shows that, in an economy with inflation persistence, it is always welfare improving for a central bank that operates under discretion to behave as if there were no inflation persistence. Under reasonable assumptions about inflation persistence, all of the inefficiency associated with discretionary policymaking is then removed.

引用

页码：107 / 113

页数：7

共 50 条

[41] Euro area inflation persistence
Nicoletta Batini
Empirical Economics, 2006, 31 : 977 - 1002
[42] THE PERSISTENCE OF INFLATION AND THE COST OF DISINFLATION
FUHRER, JC
NEW ENGLAND ECONOMIC REVIEW, 1995, : 3 - 16
[43] Inflation persistence and flexible prices
Dittmar, RD
Gavin, WT
Kydland, FE
INTERNATIONAL ECONOMIC REVIEW, 2005, 46 (01) : 245 - 261
[44] Modeling China Inflation Persistence
Zhang, Chengsi
Clovis, Joel
ANNALS OF ECONOMICS AND FINANCE, 2009, 10 (01): : 89 - 110
[45] Euro area inflation persistence
Batini, Nicoletta
EMPIRICAL ECONOMICS, 2006, 31 (04) : 977 - 1002
[46] The persistence of inflation in the United States
Pivetta, Frederic
Reis, Ricardo
JOURNAL OF ECONOMIC DYNAMICS & CONTROL, 2007, 31 (04): : 1326 - 1358
[47] Changes in US Inflation Persistence
Kang, Kyu Ho
Kim, Chang-Jin
Morley, James
STUDIES IN NONLINEAR DYNAMICS AND ECONOMETRICS, 2009, 13 (04):
[48] Imperfect credibility and inflation persistence
Erceg, CJ
Levin, AT
JOURNAL OF MONETARY ECONOMICS, 2003, 50 (04) : 915 - 944
[49] The inflation persistence of staggered contracts
Guerrieri, L
JOURNAL OF MONEY CREDIT AND BANKING, 2006, 38 (02) : 483 - 494
[50] Infrequent but Long-Lived Zero Lower Bound Episodes and the Optimal Rate of Inflation
Dordal i Carreras, Marc
Coibion, Olivier
Gorodnichenko, Yuriy
Wieland, Johannes
ANNUAL REVIEW OF ECONOMICS, VOL 8, 2016, 8 : 497 - 520

← 1 2 3 4 5 →