أعرض تسجيلة المادة بشكل مبسط

dc.creator Fair, Ray C.
dc.date 2007
dc.date.accessioned 2013-10-16T06:57:54Z
dc.date.available 2013-10-16T06:57:54Z
dc.date.issued 2013-10-16
dc.identifier Economics: The Open-Access, Open-Assessment E-Journal 1 2007-8 1-52 doi:10.5018/economics-ejournal.ja.2007-8
dc.identifier doi:10.5018/economics-ejournal.ja.2007-8
dc.identifier http://hdl.handle.net/10419/18006
dc.identifier ppn:538177691
dc.identifier http://www.economics-ejournal.org/economics/journalarticles/2007-8
dc.identifier RePEc:zbw:ifweej:5743
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/18006
dc.description This paper uses a structurally estimated macroeconometric model, denoted the MC model, to evaluate inflation targeting in the United States. Various interest rate rules are tried with differing weights on inflation and output, and various optimal control problems are solved using differing weights on inflation and output targets. Price-level targeting is also considered. The results show that 1) there are output costs to inflation targeting, especially for price shocks, 2) price-level targeting is dominated by inflation targeting, 3) the estimated interest rate rule of the Fed (in Table 4) is consistent with the Fed placing equal weights on inflation and unemployment in a loss function, 4) the estimated interest rate rule does a fairly good job at lowering variability, and 5) considerable economic variability is left after the Fed has done its best. Overall, the results suggest that the Fed should continue to behave as it has in the past.
dc.language eng
dc.publisher Kiel Institute for the World Economy (IfW) Kiel
dc.relation economics - The Open-Access, Open-Assessment E-Journal 2007-8
dc.rights http://creativecommons.org/licenses/by-nc/2.0/de/deed.en
dc.subject E52
dc.subject ddc:330
dc.subject inflation targeting
dc.subject interest rate rules
dc.subject optimal control
dc.subject Inflation Targeting
dc.subject Ökonometrisches Makromodell
dc.subject Ungleichgewichtstheorie
dc.subject Theorie
dc.subject USA
dc.title Evaluating Inflation Targeting Using a Macroeconometric Model
dc.type doc-type:article


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أعرض تسجيلة المادة بشكل مبسط