Price level targeting and the delegation issue in an open economy

Richard T. Froyen and Alfred Guender

Economics Letters, 2014, vol. 122, issue 1, 12-15

Abstract: A weight-conservative central banker setting policy with discretion and stabilizing the real exchange-rate-adjusted (REX) price level and the output gap can replicate the behavior of the rate of REX inflation and the output gap under policy from a timeless perspective.

Keywords: Price level targeting; Real-exchange-rate adjusted price level; CPI; Domestic price level; Conservative central banker (search for similar items in EconPapers)
JEL-codes: E3 E5 F3 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:122:y:2014:i:1:p:12-15

DOI: 10.1016/j.econlet.2013.10.027

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