Logo
Munich Personal RePEc Archive

Optimality criteria of hybrid inflation-price level targeting

Bokor, László (2007): Optimality criteria of hybrid inflation-price level targeting.

Warning
There is a more recent version of this item available.
[thumbnail of MPRA_paper_10278.pdf]
Preview
PDF
MPRA_paper_10278.pdf

Download (306kB) | Preview

Abstract

This paper provides a comprehensive analysis of the relative performance of inflation targeting, price level targeting, and hybrid targeting of them in a simple three-period steady state to steady state economy facing transmission lag, and derives optimal policies implementing commitment solution under all set of hybrid expectations, social preference, and cost-push shock persistence. The main intention of the examination is to reveal the nature of the interrelations between economic and policy parameters.

Available Versions of this Item

Atom RSS 1.0 RSS 2.0

Contact us: mpra@ub.uni-muenchen.de

This repository has been built using EPrints software.

MPRA is a RePEc service hosted by Logo of the University Library LMU Munich.