Browsing Arbeidsnotater / Working Papers by Subject "price-level target"
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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 ...