IS IT TIME FOR PRICE‐LEVEL TARGETING?

Steven Ambler ()

Economic Affairs, 2009, vol. 29, issue 3, 35-39

Abstract: This paper summarises arguments for and against a shift by central banks from inflation targeting to price‐level targeting. It concludes that the weight of the evidence favours a shift. One of the advantages of price‐level targeting is its superior macroeconomic performance when short‐term nominal interest rates are close to zero. Since this is the current situation facing many central banks, it may also be politically opportune to consider such a switch.

Date: 2009
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1111/j.1468-0270.2009.01916.x

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:ecaffa:v:29:y:2009:i:3:p:35-39

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0265-0665

Access Statistics for this article

Economic Affairs is currently edited by Philip Booth

More articles in Economic Affairs from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().