Blar i Norges Banks vitenarkiv på emneord "commitment"
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Inflation Inertia and the Optimal Hybrid Inflation/Price-Level Target
(Working Papers;4/2005, Working paper, 2005)A hybrid inflation/price-level target combines elements of both inflation and price-level targets. The paper derives a hybrid target within a new Keynesian model with inflation persistence due to price indexation. The ... -
Loose Commitment in Medium-Scale Macroeconomic Models: Theory and an Application
(Working Papers;25/2010, Working paper, 2010)This paper proposes a method and a toolkit for solving optimal policy with imperfect commitment in linear quadratic models. As opposed to the existing literature, our method can be employed in medium- and large-scale models ...