Employment targeting

Jean-Pascal Benassy

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Abstract: Inflation is often given the central role in discussions of monetary policy. Is this emphasis warranted? We investigate this in a DSGE model and find: (1) One can implement the optimal interest rate policy using only employment as an instrument, (2) using inflation as an instrument would lead to lower utility.

Keywords: Employment targeting; Inflation; Interest rate rules; Taylor rules (search for similar items in EconPapers)
Date: 2008-05
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Published in Economics Letters, 2008, 99 (2), pp.320-323. ⟨10.1016/j.econlet.2007.07.020⟩

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Journal Article: Employment targeting (2008)
Working Paper: Employment targeting (2006)
Working Paper: Employment targeting (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00754286

DOI: 10.1016/j.econlet.2007.07.020

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