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  1. The performance of forecast-based monetary policy rules under model uncertainty
    Author: Levin, Andrew T.; Wieland, Volker; Williams, John C.
    Published: 2003
    Publisher:  Univ.-Bibliothek Frankfurt am Main, Frankfurt am Main

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    DDC Categories: 330; 380; 650; 670
    Series: Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2003,06
    Subjects: Inflation Targeting; Geldpolitik; Aggregiertes Nationalmodell; LIMA <Modell, 1983>; HERMES-Modell; Prognoseverfahren; Theorie; Geldpolitik
    Other subjects: (stw)Inflationssteuerung; (stw)Geldpolitisches Ziel; (stw)Makroökonometrie; (stw)Prognoseverfahren; (stw)Theorie; inflation forecast targeting; optimal monetary policy; Arbeitspapier; Graue Literatur; Buch; Online-Publikation
    Scope: Online-Ressource
  2. Disagreement about future inflation
    understanding the benefits of inflation targeting and transparency
    Author: Brito, Steve; Carrière-Swallow, Yan; Gruss, Bertrand
    Published: January 2018
    Publisher:  International Monetary Fund, [Washington, D.C.]

    We estimate the determinants of disagreement about future inflation in a large and diverse sample of countries, focusing on the role of monetary policy frameworks. We offer novel insights that allow us to reconcile mixed findings in the literature on... more

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    Bibliothek der Pädagogischen Hochschule Freiburg/Breisgau
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    Niedersächsische Staats- und Universitätsbibliothek Göttingen
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    Duale Hochschule Baden-Württemberg Heidenheim, Bibliothek
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    Universitätsbibliothek Leipzig
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    Leuphana Universität Lüneburg, Medien- und Informationszentrum, Universitätsbibliothek
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    Duale Hochschule Baden-Württemberg Mosbach, Bibliothek
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    Hochschule Offenburg, University of Applied Sciences, Bibliothek Campus Offenburg
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    Hochschulbibliothek Pforzheim, Bereichsbibliothek Technik und Wirtschaft
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    We estimate the determinants of disagreement about future inflation in a large and diverse sample of countries, focusing on the role of monetary policy frameworks. We offer novel insights that allow us to reconcile mixed findings in the literature on the benefits of inflation targeting regimes and central bank transparency. The reduction in disagreement that follows the adoption of inflation targeting is entirely due to increased central bank transparency. Since the benefits of increased transparency are non-linear, the gains from inflation targeting adoption have accrued mainly to countries that started from a low level of transparency. These have tended to be developing countries

     
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    Source: Staatsbibliothek zu Berlin
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9781484339718
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    Series: IMF working paper ; WP/18, 24
    Subjects: Inflationssteuerung; Zentralbank; Fiskalische Transparenz; Inflationserwartung; Entwicklungsländer; Central Bank Transparency; Inflation Forecasts; Inflation Targeting; IT Adoption; WP
    Scope: 1 Online-Ressource (circa 19 Seiten), Illustrationen
  3. A snapshot of central bank (two year) forecasting
    a mixed picture
    Author: Goodhart, Charles A. E.; Pradhan, Manoj
    Published: 29 March 2023
    Publisher:  Centre for Economic Policy Research, London

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Universitätsbibliothek Mannheim
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Array ; DP18043
    Subjects: Inflation Targeting; Forecasting; Crisis Periods; Expectations; Fan Chart
    Scope: 1 Online-Ressource (circa 77 Seiten), Illustrationen
  4. Forecasting core inflation in India
    a four-step approach
    Author: Choudhary, Rishabh; Ghate, Chetan; Meman, Md Arbaj
    Published: September 2023
    Publisher:  Institute of Economic Growth, University of Delhi, Delhi, India

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: IEG working paper ; no. 461
    Subjects: Inflation Forecasting in EMEs; Core Inflation; State-Space Models; Dynamic Factor Models; Macroeconomic Management; Inflation Targeting
    Scope: 1 Online-Ressource (circa 40 Seiten), Illustrationen
  5. Disagreement about future inflation
    understanding the benefits of inflation targeting and transparency
    Author: Brito, Steve; Carrière-Swallow, Yan; Gruss, Bertrand
    Published: January 2018
    Publisher:  International Monetary Fund, [Washington, D.C.]

    We estimate the determinants of disagreement about future inflation in a large and diverse sample of countries, focusing on the role of monetary policy frameworks. We offer novel insights that allow us to reconcile mixed findings in the literature on... more

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    We estimate the determinants of disagreement about future inflation in a large and diverse sample of countries, focusing on the role of monetary policy frameworks. We offer novel insights that allow us to reconcile mixed findings in the literature on the benefits of inflation targeting regimes and central bank transparency. The reduction in disagreement that follows the adoption of inflation targeting is entirely due to increased central bank transparency. Since the benefits of increased transparency are non-linear, the gains from inflation targeting adoption have accrued mainly to countries that started from a low level of transparency. These have tended to be developing countries

     
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    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Source: Staatsbibliothek zu Berlin
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9781484339718
    Other identifier:
    Series: IMF working paper ; WP/18, 24
    Subjects: Inflationssteuerung; Zentralbank; Fiskalische Transparenz; Inflationserwartung; Entwicklungsländer; Central Bank Transparency; Inflation Forecasts; Inflation Targeting; IT Adoption; WP
    Scope: 1 Online-Ressource (circa 19 Seiten), Illustrationen
  6. Optimal trend inflation
    Author: Adam, Klaus; Weber, Henning
    Published: 2017
    Publisher:  Universitätsbibliothek Johann Christian Senckenberg, Frankfurt am Main

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  7. Inflation targeting as a monetary policy rule
    Author: Svensson, Lars E. O.
    Published: 1998
    Publisher:  Univ.-Bibliothek Frankfurt am Main, Frankfurt am Main

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
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    DDC Categories: 330; 380; 650; 670
    Edition: Version August 1998
    Series: Institut für Kapitalmarktforschung (Frankfurt am Main): CFS working paper series ; Nr. [19]98,16
    Subjects: Inflation Targeting; Geldpolitik; Regelbindung; Theorie; Europäische Union; Inflation Targeting; Geldpolitik; Regelbindung
    Other subjects: (stw)Inflationssteuerung; (stw)Geldpolitik; (stw)Regelbindung versus Diskretion; (stw)Theorie; (stw)EU-Staaten; targets; instruments; indicators; intermediate targets; Arbeitspapier; Graue Literatur
    Scope: Online-Ressource
  8. Imperfect knowledge, inflation expectations, and monetary policy
    Author: Orphanides, Athanasios; Williams, John C.
    Published: 2003
    Publisher:  Univ.-Bibliothek Frankfurt am Main, Frankfurt am Main

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  9. Performance of inflation targeting based on constant interest rate projections
    Author: Honkapohja, Seppo; Mitra, Kaushik
    Published: 2003
    Publisher:  Univ.-Bibliothek Frankfurt am Main, Frankfurt am Main

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    RVK Categories: QB 910
    Series: Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2003,39
    Subjects: Inflation Targeting; Zins; Entscheidung bei Unsicherheit
    Other subjects: (stw)Inflationssteuerung; (stw)Zins; (stw)Entscheidung unter Unsicherheit; indeterminacy; instability under learning; inflation targeting; inertia in demand; inflation inertia; Arbeitspapier; Graue Literatur
    Scope: Online-Ressource
  10. Price stability and monetary policy effectiveness when nominal interest rates are bounded at zero
    Author: Coenen, Günter; Orphanides, Athanasios; Wieland, Volker
    Published: 2003
    Publisher:  Univ.-Bibliothek Frankfurt am Main, Frankfurt am Main

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    RVK Categories: QB 910 ; QB 910
    DDC Categories: 330; 380; 650; 670
    Series: Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2003,13
    Subjects: Geldpolitik; Zins; Preisstabilität; Liquiditätspräferenztheorie; Inflation Targeting; Schätzung
    Other subjects: (stw)Geldpolitik; (stw)Zins; (stw)Preisstabilität; (stw)Liquiditätspräferenz; (stw)Inflationssteuerung; (stw)Schätzung; (stw)USA; inflation targeting; price stability; monetary policy rules; liquidity trap; Arbeitspapier; Graue Literatur
    Scope: Online-Ressource
  11. Neue Anforderungen an eine gesamtwirtschaftliche Stabilisierung
    Author: Beissinger, Thomas
    Published: 2008
    Publisher:  Kommunikations-, Informations- und Medienzentrum der Universität Hohenheim, Hohenheim

  12. Heterogenous information about the term structure of interest rates, least-squares learning and optimal interest rate rules
    Author: Eijffinger, Sylvester C. W.; Schaling, Eric; Tesfaselassie, Mewael F.
    Published: 2004
    Publisher:  Centre for Economic Policy Research, London ; Kiel Institute for the World Economy (IfW), Kiel

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/28844
    RVK Categories: QK 600 ; QB 910
    Series: CEPR Discussion Paper Series, Centre for Economic Policy Research (CEPR), London ; 4279
    Subjects: Zinsstruktur; Inflation Targeting; Wirtschaft; Prognose; Lernkurve
    Other subjects: (stw)Zinsstruktur; (stw)Inflationssteuerung; (stw)Wirtschaftsprognose; (stw)Lernprozess; jel:C53; jel:E43; jel:E52; jel:F33; Zinsstruktur (STW); Inflation Targeting (STW); Wirtschaftsprognose (STW); Lernprozess (STW); Arbeitspapier; Graue Literatur
    Scope: Online-Ressource
  13. Should central banks target investment prices?
    Author: Basu, Susanto; De Leo, Pierre
    Published: March 25, 2016
    Publisher:  Boston College, Department of Economics, [Chestnut Hill, Mass.]

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Language: English
    Media type: Book
    Format: Online
    Edition: This version: March 25, 2016
    Series: Working papers / Boston College, Department of Economics ; 910
    Subjects: Inflation Targeting; Investment-Specific Technical Change; Investment Price Rigidity; Optimal Monetary Policy
    Scope: 1 Online-Ressource (circa 45 Seiten), Illustrationen
  14. The role of energy price shocks in the transmission of monetary policy in an inflation targeting country
    the case of Ghana
    Author: Harvey, Simon Kwadzogah; Walley, Bernard Jagre
    Published: July 2022
    Publisher:  African Economic Research Consortium, Nairobi, Kenya

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    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789966612144
    Series: Research paper / African Economic Research Consortium ; 513
    Subjects: Monetary Policy; Inflation Targeting; Energy Prices
    Scope: 1 Online-Ressource (circa 35 Seiten), Illustrationen
  15. Counter-cyclical fiscal rules and the zero lower bound
    Author: Hauptmeier, Sebastian; Kamps, Christophe; Radke, Lucas
    Published: [2022]
    Publisher:  European Central Bank, Frankfurt am Main, Germany

    We analyse the effectiveness of optimal simple and implementable monetary and fiscal policy rules in stabilising economic activity, inflation and government debt in face of an occasionally binding lower bound on the nominal interest rate in a New... more

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    We analyse the effectiveness of optimal simple and implementable monetary and fiscal policy rules in stabilising economic activity, inflation and government debt in face of an occasionally binding lower bound on the nominal interest rate in a New Keynesian model. We show that, within the traditional assignment of active monetary policy and passive fiscal policy, the optimal fiscal policy rule features a strong counter-cyclical response to the deviation of inflation from the central bank's target - providing significant macroeconomic stabilisation especially at the lower bound - while also featuring a strong response to government debt. Our quantitative results show that the optimal counter-cyclical fiscal feedback to inflation significantly improves welfare and reduces the lower-bound frequency. In addition, the optimal simple monetary and fiscal rules almost completely resolve the deflationary bias associated with the lower bound.

     
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    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789289953009
    Other identifier:
    hdl: 10419/269122
    Series: Working paper series / European Central Bank ; no 2715 (August 2022)
    Subjects: Fiscal Rules; Zero Lower Bound; Inflation Targeting; Deflationary Bias
    Scope: 1 Online-Ressource (circa 32 Seiten), Illustrationen
  16. Redistributive policy shocks and monetary policy with heterogeneous agents
    Author: Bahl, Ojasvita; Ghate, Chetan; Mallick, Debdulal
    Published: September 2022
    Publisher:  Institute of Economic Growth, University of Delhi, Delhi, India

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: IEG working paper ; no. 455
    Subjects: TANK models; Inflation Targeting; Emerging Market and Developing Economies; Procurement and Redistribution; DSGE
    Scope: 1 Online-Ressource (circa 62 Seiten), Illustrationen
  17. Die gelungene neue Strategie der EZB
    Author: Dullien, Sebastian; Tober, Silke
    Published: [2021]
    Publisher:  Institut für Makroökonomie und Konjunkturforschung (IMK) der Hans-Böckler-Stiftung, Düsseldorf

    Die Europäische Zentralbank hat ihre zuletzt 2003 geänderte geldpolitische Strategie grundlegend überholt. Aus Sicht des IMK ging es im Wesentlichen darum, den Strategie-Text an die seit 2011 entscheidend weiterentwickelten geldpolitischen Leitlinien... more

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    Die Europäische Zentralbank hat ihre zuletzt 2003 geänderte geldpolitische Strategie grundlegend überholt. Aus Sicht des IMK ging es im Wesentlichen darum, den Strategie-Text an die seit 2011 entscheidend weiterentwickelten geldpolitischen Leitlinien anzupassen. Mit der im Juli 2021 veröffentlichten neuen geldpolitischen Strategie ist nun genau das geschehen. Zentrales Element der neuen Strategie ist das mit 2 % eindeutige und symmetrische Inflationsziel. Es ist der entscheidende Maßstab, der durch den Vergleich mit der Inflationsprognose geldpolitischen Handlungsbedarf anzeigt und zugleich eine Orientierungsgröße für die Erwartungen in Lohnverhandlungen, bei der Preissetzung und an den Finanzmärkten liefert. Die Europäische Zentralbank hat in Einklang mit den EU-Verträgen zudem klargestellt, dass ihre makroökonomische Verantwortung über die Preisstabilität hinausgeht, Preisstabilität jedoch ihr oberstes Ziel darstellt. Weitere strategische Änderungen bestehen darin, die bisher als unkonventionell bezeichneten geldpolitischen Instrumente wie Wertpapierkäufe in den regulären Werkzeugkasten zu überführen, die Kosten selbstgenutzten Wohneigentums perspektivisch im Inflationsmaß zu berücksichtigen und die makroökonomischen Folgen von Entwicklungen in Zusammenhang mit der existentiellen Herausforderung Klimawandel stärker in die Ausgestaltung der Geldpolitik einzubeziehen.

     
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    Source: Union catalogues
    Language: German
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/250718
    Series: IMK policy brief / Institut für Makroökonomie und Konjunkturforschung ; Nr. 110 (September 2021)
    Subjects: EZB; geldpolitische Strategie; Preisschocks; Inflation Targeting; selbst genutztes Wohneigentum
    Scope: 1 Online-Ressource (circa 15 Seiten), Illustrationen
  18. Considerations on the monetary policy framework of the European Central Bank
    Author: Tosato, Andrea Giorgio
    Published: [2022]
    Publisher:  Central Bank of Malta, [Valletta]

    This working paper offers some considerations on the monetary policy framework of the European Central Bank. The trade-offs arising from adopting a point target configuration over a range target one are assessed in terms of their flexibility vs.... more

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    This working paper offers some considerations on the monetary policy framework of the European Central Bank. The trade-offs arising from adopting a point target configuration over a range target one are assessed in terms of their flexibility vs. inflation anchoring properties. This layout is then confronted with the policy framework in use in the euro area prior to the adoption of the new monetary strategy, which is interpreted as leaning on the side of flexibility. The increased likelihood of dis-anchoring of long-term inflation expectations experienced in the euro area since 2013, however, suggests that the policy framework could benefit from a rebalancing towards a formulation with stronger anchoring properties. The inflation aim of the ECB could thus be reformulated with the introduction of a symmetric 2%-point target. By evaluating this arrangement in terms of the price stability definition, two regions emerge where either the policy aim (symmetric 2%-point target) or the price stability definition (between 0% and 2%) are satisfied, but not both. To avoid any inconsistency in the policy framework, an inflation aim centred at 2% requires an amendment of the price stability definition.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
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    Other identifier:
    hdl: 10419/268293
    Series: Working papers / Central Bank of Malta ; WP/2022, 01
    Subjects: Inflation Targeting; European Central Bank; Inflation Expectations; Price Stability
    Scope: 1 Online-Ressource (circa 55 Seiten), Illustrationen
  19. On robustness of average inflation targeting
    Author: Honkapohja, Seppo; McClung, Nigel
    Published: 21 April 2021
    Publisher:  Bank of Finland, Helsinki

    This paper considers the performance of average inflation targeting (AIT) policy in a New Keynesian model with adaptive learning agents. Our analysis raises concerns regarding robustness of AIT when agents have imperfect knowledge. In particular, the... more

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    This paper considers the performance of average inflation targeting (AIT) policy in a New Keynesian model with adaptive learning agents. Our analysis raises concerns regarding robustness of AIT when agents have imperfect knowledge. In particular, the target steady state can be locally unstable under learning if details about the policy are not publicly available. Near the low steady state with interest rates at the zero lower bound, AIT does not necessarily outperform a standard inflation targeting policy. Policymakers can improve outcomes under AIT by (i) targeting a discounted average of inflation, or (ii) communicating the data window for the target.

     
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    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789523233737
    Other identifier:
    hdl: 10419/240346
    Series: Bank of Finland research discussion papers ; 2021, 6
    Subjects: Adaptive Learning; Inflation Targeting; Zero Interest Rate Lower Bound
    Scope: 1 Online-Ressource (circa 68 Seiten), Illustrationen
  20. Did the Federal Reserve break the Phillips curve?
    theory and evidence of anchoring inflation expectations
    Author: Bundick, Brent; Smith, Andrew Lee
    Published: 2020
    Publisher:  Federal Research Bank of Kansas City, Kansas City, Mo.

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
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    Series: KcFED research working papers ; RWP 20, 11 (September 2020)
    Subjects: Monetary Policy; Inflation; Inflation Targeting; Central Bank Communication; Structural Breaks; Phillips Curve
    Scope: 1 Online-Ressource (circa 41 Seiten), Illustrationen