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Monetary Policy in a Low‐Inflation Environment: Developing a State‐Contingent Price‐Level Target

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  • CHARLES L. EVANS

Abstract

Remarks delivered by Charles Evans before the Federal Reserve Bank of Boston's 55th Economic Conference on October 16, 2010, in Boston, Mass.
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Suggested Citation

  • Charles L. Evans, 2012. "Monetary Policy in a Low‐Inflation Environment: Developing a State‐Contingent Price‐Level Target," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44, pages 147-155, February.
  • Handle: RePEc:mcb:jmoncb:v:44:y:2012:i::p:147-155
    DOI: j.1538-4616.2011.00482.x
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    References listed on IDEAS

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    1. Alan J. Auerbach & Maurice Obstfeld, 2005. "The Case for Open-Market Purchases in a Liquidity Trap," American Economic Review, American Economic Association, vol. 95(1), pages 110-137, March.
    2. Lars E.O. Svensson, 2003. "Escaping from a Liquidity Trap and Deflation: The Foolproof Way and Others," Journal of Economic Perspectives, American Economic Association, vol. 17(4), pages 145-166, Fall.
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    Cited by:

    1. Guido Ascari & Argia M. Sbordone, 2014. "The Macroeconomics of Trend Inflation," Journal of Economic Literature, American Economic Association, vol. 52(3), pages 679-739, September.
    2. Seppo Honkapohja & Kaushik Mitra, 2015. "Comparing Inflation and Price-Level Targeting: The Role of Forward Guidance and Transparency," Manchester School, University of Manchester, vol. 83, pages 27-59, December.
    3. Mitra, Kaushik & Honkapohja, Seppo, 2014. "Targeting nominal GDP or prices: : Guidance and expectation dynamics," Research Discussion Papers 4/2014, Bank of Finland.
    4. Sofía Bauducco & Rodrigo Caputo, 2013. "Wicksell Versus Taylor: A Quest for Determinancy and the (IR) Relevance of the Taylor Principle," Working Papers Central Bank of Chile 705, Central Bank of Chile.
    5. Seppo Honkapohja, 2016. "Monetary policies to counter the zero interest rate: an overview of research," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 43(2), pages 235-256, May.
    6. Giannoni, Marc P., 2014. "Optimal interest-rate rules and inflation stabilization versus price-level stabilization," Journal of Economic Dynamics and Control, Elsevier, vol. 41(C), pages 110-129.
    7. Honkapohja, Seppo & Kaushik, Mitra, 2018. "Price level targeting with evolving credibility," Research Discussion Papers 5/2018, Bank of Finland.

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