On Policy Rules for Price Stability

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Monetary Policy and Economic Impact Economic theories and models European Monetary and Fiscal Policies

Abstract

Over the 1980s and 1990s, monetary policy in most industrialized countries has focussed increasingly on achieving rates of inflation at or close to price stability. The result in the 1990s has been a remarkable convergence

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References

1993Discretion versus policy rules in practice 1980Aggregate Dynamics and Staggered Contracts 1985Debt, Deficits, and Finite Horizons 1958The Relation Between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom, 1861–1957 1 1995Effects of the Hodrick-Prescott filter on trend and difference stationary time series Implications for business cycle research 1979Estimation and Control of a Macroeconomic Model with Rational Expectations 1997Issues in the Design of Monetary Policy Rules 1989Overlapping families of infinitely-lived agents

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1999What Do New Keynesian Phillips Curves Imply for Price Level Targeting?2004Two Decades of Japanese Monetary Policy and the Deflation Problem 2013Forecasting and Policy Making 2003Hybrid Inflation and Price-Level Targeting 2006Monetary Policy Strategy: How Did We Get Here?2007Is Time Ripe for Price Level Path Stability?

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