A Comparative Analysis of the Stabilizing Properties of Nominal Income Growth Targeting

Alfred Guender

Working Papers in Economics from University of Canterbury, Department of Economics and Finance

Abstract: Given highly persistent cost-push shocks, the relative performance of nominal income growth targeting depends critically on the size of two key parameters. Barring extreme preferences, nominal income growth targeting performs fairly well relative to commitment and pure discretion for small values of the Phillips Curve parameter.

Keywords: Nominal Income Growth Targeting; Timeless Perspective; Discretion; Standard Commitment (search for similar items in EconPapers)
JEL-codes: E3 E5 (search for similar items in EconPapers)
Pages: 10 pages
Date: 2006-10-01
New Economics Papers: this item is included in nep-cba and nep-mac
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https://repec.canterbury.ac.nz/cbt/econwp/0615.pdf (application/pdf)

Related works:
Journal Article: A comparative analysis of the stabilizing properties of nominal income growth targeting (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:cbt:econwp:06/15

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