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Maximizing Price Stability in a Monetary Economy

Warren Mosler and Damiano B. Silipo

Economics Working Paper Archive from Levy Economics Institute

Abstract: In this paper we analyze options for the European Central Bank (ECB) to achieve its single mandate of price stability. Viable options for price stability are described, analyzed, and tabulated with regard to both short- and long-term stability and volatility. We introduce an additional tool for promoting price stability and conclude that public purpose is best served by the selection of an alternative buffer stock policy that is directly managed by the ECB.

Keywords: European Central Bank; Monetary Policy Tools and Price Stability; Buffer Stock Policy (search for similar items in EconPapers)
JEL-codes: E52 E58 (search for similar items in EconPapers)
Date: 2016-04
New Economics Papers: this item is included in nep-cba, nep-eec, nep-pr~, nep-mac, nep-mon and nep-pke
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Persistent link: https://EconPapers.repec.org/RePEc:lev:wrkpap:wp_864

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