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Monetary Policy Issues in a Low Inflation Environment

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  • José Viñals

    (Banco de España)

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    Abstract

    One of the most striking macroeconomic phenomena in recent decades has been the achievement of rather low and more stable rates inflation in many countries in the nineties. Consequently, the main goal of this paper is to offer an overview of the main policy issues arising in a low inflation environment and their practical relevance so as to identify the main challenges facing central bankers in such an environment.

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    File URL: http://www.bde.es/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/01/Fic/dt0107e.pdf
    File Function: First version, 2001
    Download Restriction: no

    Bibliographic Info

    Paper provided by Banco de España in its series Banco de España Working Papers with number 0107.

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    Length: 67 pages
    Date of creation: 2001
    Date of revision:
    Handle: RePEc:bde:wpaper:0107

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    Web page: http://www.bde.es/
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    Related research

    Keywords: monetary policy; macroeconomics; inflation;

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    Cited by:
    1. Silvia Sgherri & Tamim Bayoumi, 2004. "Monetary Magic? How the Fed Improved the Supply Side of the Economy," Econometric Society 2004 Far Eastern Meetings 422, Econometric Society.
    2. Marvin Goodfriend, 2004. "Monetary policy in the new neoclassical synthesis : a primer," Economic Quarterly, Federal Reserve Bank of Richmond, issue Sum, pages 21-45.
    3. Tamim Bayoumi & Silvia Sgherri, 2004. "Monetary Magic? How the Fed Improved the Flexibility of the U.S. Economy," IMF Working Papers 04/24, International Monetary Fund.
    4. Tödter, Karl-Heinz, 2002. "Monetary indicators and policy rules in the P-star model," Discussion Paper Series 1: Economic Studies 2002,18, Deutsche Bundesbank, Research Centre.
    5. Alicia García Herrero & Pedro del Río, 2003. "Financial stability and the design of monetary policy," Banco de España Working Papers 0315, Banco de España.
    6. Alicia García Herrero & Pedro del Río López, 2003. "Implications of the design of monetary policy for financial stability," Macroeconomics 0304008, EconWPA.

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