Inflation and Price Level Targeting in a New Keynesian Model
Jagjit Chadha () and
Charles Nolan ()
Manchester School, 2002, vol. 70, issue 4, 570-95
In a New Keynesian macroeconomic model under credible commitment, price level targeting dominates inflation targeting. But with sufficient inflation aversion the inflation-targeting central bank can produce quantitatively similar results to one targeting the price level. The current degree of inflation aversion demonstrated by the Bank of England may be sufficient to reap the benefits of price level targeting. Copyright 2002 by Blackwell Publishers Ltd and The Victoria University of Manchester
References: Add references at CitEc
Citations View citations in EconPapers (10) Track citations by RSS feed
Downloads: (external link)
http://www.blackwell-synergy.com/servlet/useragent ... &year=2002&part=null link to full text (text/html)
Access to full text is restricted to subscribers.
Working Paper: Inflation and Price Level Targeting in a New Keynesian Model (2002)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:bla:manchs:v:70:y:2002:i:4:p:570-95
Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=1463-6786
Access Statistics for this article
Manchester School is currently edited by Keith Blackburn
More articles in Manchester School from University of Manchester Contact information at EDIRC.
Series data maintained by Wiley-Blackwell Digital Licensing ().