monetary policyeconomic outcomeNowadays, it is obvious that both stable money and price stability could be an important objective for the development of the society. The main aspect in this sense is conferred by the institutional mechanism which guarantees the price stability....
Learn the monetary policy and price stability definitions and see how they impact the economy. See how the Federal Reserve acts to regulate the...
The definition of price stability adopted by the ECB has recently been criticized in the literature, particularly for being unable to fully anchor inflation expectations and creating a deflation risk. In the paper empirical evidence is provided against these claims. Despite the unfavourable macroeconomic...
The Case for Price Stability , Working Paper 01-02 Reasoning within the New Neoclassical Synthesis (NNS) we previously recommended that price stability should be the primary objective of monetary policy. We called this a neutral policy because it keeps output at its potential, defined as... M ...
1998. "Price Stability and Monetary Policy Effectiveness When Nominal Interest Rates are Bounded at Zero." Board of Governors of the Federal Reserve System, June.Coenen, G., A. Orphanides, and V. Wieland (2004). Price stability and monetary policy effectiveness when nominal interest rates are ...
paramount objective of monetary policy. 1 Some critics of the view that monetary pol- icy should focus solely on minimizing fluctuations in the inflation rate or price level argue that such a narrow focus would compromise the stability of the financial ...
monetarystabilitypricepolicy货币价格 MonetaryPolicy,PriceStability andOutputGapStabilization* VitorGasparandFrankSmets EuropeanCentralBank. Abstract UsingastandardNew-Keynesianmodel,thispaperexaminesthreereasons whymonetarypolicyshouldprimarilyfocusonpricestabilityratherthan thestabilizationofoutputaroundpotential,evenifthere...
This paper explores issues that arise in implementing monetary policy under conditions of sustained price stability. We discuss several issues that concern the selection of a central bank's inflation objective under such conditions: price measurement; the behavior of other key variables, particularly wag...
The aim of this paper is to present the price stability oriented monetary policy of the European Central Bank. The European Central Bank began activities in 1998 and the primary objective of the European System of Central Banks is to maintain price stability and the ESCB should also support the...
Russian monetary authorities see their main task in maintaining price stability and improving financial sector resilience to possible macroeconomic shocks. The Bank of Russia does not give up the goal of reducing consumer inflation to 4% by the end of 2017, so the regulator plans to maintain a ...