EconPapers    
Economics at your fingertips  
 

Price-level and interest-rate targeting in a model with sticky prices

Charles Carlstrom and Timothy Fuerst

No 9819, Working Papers (Old Series) from Federal Reserve Bank of Cleveland

Abstract: An examination of a standard sticky-price monetary model whose conditions are perturbed relative to the canonical real-business-cycle model by two varying distortions: marginal cost and the nominal rate of interest. The paper explores the implications of two monetary policies that are frequently advocated: (1) an inflation target and (2) an interest rate target.

Keywords: Inflation (Finance); Monetary policy (search for similar items in EconPapers)
Date: 1998, Revised 1998
New Economics Papers: this item is included in nep-dge and nep-mon
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10) Track citations by RSS feed

Downloads: (external link)
https://www.clevelandfed.org/~/media/content/newsr ... ting%20pdf.pdf?la=en Full text (application/pdf)

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:fip:fedcwp:9819

Ordering information: This working paper can be ordered from

Access Statistics for this paper

More papers in Working Papers (Old Series) from Federal Reserve Bank of Cleveland Contact information at EDIRC.
Bibliographic data for series maintained by ().

 
Page updated 2020-07-05
Handle: RePEc:fip:fedcwp:9819