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Policy futures markets with multiple goals

  • Jackson, Aaron L.

Previous work in monetary policy futures markets under a single policy goal have shown this approach to be effective at eliminating the circularity problem inherent with private-sector targeting strategies. We extend this monetary policy setting framework to a typical multiple goal policy objective: inflation and output stabilization. We also demonstrate how the prices in policy futures markets can help resolve debates over important policy questions.

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Article provided by Elsevier in its journal Journal of Macroeconomics.

Volume (Year): 32 (2010)
Issue (Month): 1 (March)
Pages: 45-54

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Handle: RePEc:eee:jmacro:v:32:y:2010:i:1:p:45-54
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622617

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