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The credibility of the monetary policy "free lunch"

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  • Yetman, James

Abstract

JEL Classification: E52

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Bibliographic Info

Paper provided by European Central Bank in its series Working Paper Series with number 0284.

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Date of creation: Nov 2003
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Handle: RePEc:ecb:ecbwps:20030284

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Keywords: credibility; monetary policy;

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References

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  1. Clarida, Richard & Galí, Jordi & Gertler, Mark, 1999. "The Science of Monetary Policy: A New Keynesian Perspective," CEPR Discussion Papers 2139, C.E.P.R. Discussion Papers.
  2. Svensson, Lars E O, 1999. "Price-Level Targeting versus Inflation Targeting: A Free Lunch?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 31(3), pages 277-95, August.
  3. Robert Dittmar & William T. Gavin, 2000. "What do New-Keynesian Phillips Curves imply for price-level targeting?," Review, Federal Reserve Bank of St. Louis, issue Mar, pages 21-30.
  4. Currie,David & Levine,Paul, 2009. "Rules, Reputation and Macroeconomic Policy Coordination," Cambridge Books, Cambridge University Press, number 9780521104609, April.
  5. Roberts, John M, 1995. "New Keynesian Economics and the Phillips Curve," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(4), pages 975-84, November.
  6. Vestin, David, 2000. "Price-level Targeting versus Inflation Targeting in a Forward-looking Model," Working Paper Series 106, Sveriges Riksbank (Central Bank of Sweden).
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Cited by:
  1. Oleksiy Kryvtsov & Malik Shukayev & Alexander Ueberfeldt, 2008. "Adopting Price-Level Targeting under Imperfect Credibility: An Update," Working Papers 08-37, Bank of Canada.
  2. Ferro, Gustavo, 2007. "Metas de inflación ¿qué hay de nuevo bajo el sol?
    [Inflation Targeting. What's new under the sun?]
    ," MPRA Paper 15069, University Library of Munich, Germany, revised 11 Mar 2008.
  3. James Yetman, 2004. "Speed Limit Policies and Interest Rate Smoothing," Economics Bulletin, AccessEcon, vol. 5(17), pages 1-6.
  4. Paul R. Masson & Malik D. Shukayev, 2008. "Are Bygones not Bygones? Modeling Price Level Targeting with an Escape Clause and Lessons from the Gold Standard," Working Papers 08-27, Bank of Canada.
  5. James Yetman, 2005. "Discretionary Policy, Potential Output Uncertainty, and Optimal Learning," Reserve Bank of New Zealand Discussion Paper Series DP2005/07, Reserve Bank of New Zealand.
  6. repec:ebl:ecbull:v:5:y:2004:i:17:p:1-6 is not listed on IDEAS

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