Price Level Targeting vs Inflation Targeting : A free Lunch?
Price level targeting (without base drift) and inflation targeting (with base drift) are compared under commitment and discretion, with persistence in unemployment.
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- Sofronis Clerides & Saul Lach & James Tybout, 1996.
"Is "learning-by-exporting" important? Micro-dynamic evidence from Colombia, Mexico and Morocco,"
Finance and Economics Discussion Series
96-30, Board of Governors of the Federal Reserve System (U.S.).
- Sofronis K. Clerides & Saul Lach & James R. Tybout, 1998. "Is Learning By Exporting Important? Micro-Dynamic Evidence From Colombia, Mexico, And Morocco," The Quarterly Journal of Economics, MIT Press, vol. 113(3), pages 903-947, August.
- Sofronis Clerides & Saul Lach & James Tybout, 1996. "Is "Learning-by-Exporting" Important? Micro-Dynamic Evidence from Colombia, Mexico and Morocco," NBER Working Papers 5715, National Bureau of Economic Research, Inc.
- R. Glenn Hubbard & Jonathan S. Skinner, 1996.
"Assessing the Effectiveness of Saving Incentives,"
NBER Working Papers
5686, National Bureau of Economic Research, Inc.
- Michael D. Bordo & Anna J. Schwartz, 1996. "Why Clashes Between Internal and External Stability Goals End in Currency Crises, 1797-1994," NBER Working Papers 5710, National Bureau of Economic Research, Inc.
- Kevin A. Hassett & R. Glenn Hubbard, 1996.
"Tax Policy and Investment,"
NBER Working Papers
5683, National Bureau of Economic Research, Inc.
- Armen Hovakimian & Edward J. Kane, 1996. "Risk-Shifting by Federally Insured Commercial Banks," NBER Working Papers 5711, National Bureau of Economic Research, Inc.
- Svensson, Lars E O, 1996.
"Price-level Targeting versus Inflation Targeting: A Free Lunch?,"
CEPR Discussion Papers
1510, C.E.P.R. Discussion Papers.
- 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.
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