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The role of the "Maximizing Output Growth Inflation Rate" in monetary policy

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  • Dominique Pepin

    () (CRIEF - Centre de Recherche sur l'Intégration Economique et Financière - Université de Poitiers)

Abstract

The paper discusses the role of monetary policy when potential output depends on the inflation rate. If the intention of the central bank is to maximize actual output growth, then it has to be credibly committed to a strict inflation targeting rule, and to take the MOGIR (the Maximizing Output Growth Inflation Rate) as the target.

Suggested Citation

  • Dominique Pepin, 2004. "The role of the "Maximizing Output Growth Inflation Rate" in monetary policy," Working Papers hal-00965020, HAL.
  • Handle: RePEc:hal:wpaper:hal-00965020 Note: View the original document on HAL open archive server: https://hal.archives-ouvertes.fr/hal-00965020
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    References listed on IDEAS

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    Keywords

    Inflation targeting; Monetary policy rules;

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