Instability Under Nominal GDP Targeting: the Role of Expectations

Richard Dennis

Working Papers from Australian National University - Department of Economics

Abstract: Using a small closed economy model Ball (1987) showed that nominal GDP targeting can lead to instability. This paper extends Ball ; s model to uncover the role inflation expectations play in generating this instability.

Keywords: INFLATION; ECONOMIC MODELS; EXPECTATIONS (search for similar items in EconPapers)
JEL-codes: D51 E23 E31 (search for similar items in EconPapers)
Pages: 32 pages
Date: 1998
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Citations: View citations in EconPapers (10)

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Working Paper: Instability under nominal GDP targeting: the role of expectations (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:fth:aunaec:347

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