Monetary Policy Rules and the Persistence of Inflation and Output
George Bratsiotis () and
Christopher Martin ()
Public Policy Discussion Papers from Economics and Finance Section, School of Social Sciences, Brunel University
This paper argues that the parameters of monetary policy rules affect the persistence of inflation and output. Persistence is lower if monetary policy emphasises the price level or if there is an inflation target. A greater emphasis on output increases persistence. There is a simple New Keynesian interpretation of our findings: monetary policy rules affect persistence by affecting real rigidities.
Pages: 8 pages
References: Add references at CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://www.brunel.ac.uk/329/efwps/02-27.pdf [302 Found]--> https://www.brunel.ac.uk/329/efwps/02-27.pdf)
Working Paper: Monetary Policy Rules and the Persistence of Inflation and Output (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:bru:bruppp:02-27
Access Statistics for this paper
More papers in Public Policy Discussion Papers from Economics and Finance Section, School of Social Sciences, Brunel University Brunel University, Uxbridge, Middlesex UB8 3PH, UK.
Bibliographic data for series maintained by John.Hunter ().