Achieving Price Stability in the Euro Zone: Monetary or InflationTargeting?

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Achieving Price Stability in the Euro Zone: Monetary or InflationTargeting?

Author Info

H.M.M. Peeters

Abstract

In this paper a small econometric model with model-consistent expectations is adopted for the euro zone to study monetary and inflation targeting. Similation results show that the 'costs' in terms of inflation and economic growth volatility are by and large lowest in case of inflation targeting. Some attention is finally drawn to asymmetric shocks.

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Paper provided by Netherlands Central Bank in its series DNB Staff Reports (discontinued) with number 43.

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Length: 36 pages
Date of creation: 2000
Date of revision:
Handle: RePEc:dnb:staffs:43

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Find related papers by JEL classification:
C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions
E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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Lawrence J. Christiano & Christopher J. Gust, 1999. "Taylor Rules in a Limited Participation Model," NBER Working Papers 7017, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
Other versions:
- Lawrence J. Christiano & Christopher J. Gust, 1999. "Taylor rules in a limited participation model," Working Paper 9902, Federal Reserve Bank of Cleveland. [Downloadable!]
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Other versions:
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Other versions:
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Other versions:
- W. Bolt & P.J.A. van Els, 2000. "Output Gap and Inflation in the EU," DNB Staff Reports (discontinued) 44, Netherlands Central Bank. [Downloadable!]
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Other versions:
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Other versions:
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Other versions:
- Woodford, M., 1999. "Optimal Monetary Policy Inertia.," Papers 666, Stockholm - International Economic Studies.
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