dc.contributor.author | Røisland, Øistein | |
dc.date.accessioned | 2018-05-16T12:53:07Z | |
dc.date.available | 2018-05-16T12:53:07Z | |
dc.date.issued | 2005 | |
dc.identifier.isbn | 82-7553-300-7 | |
dc.identifier.isbn | 82-7553-301-5 | |
dc.identifier.issn | 0801-2504 | |
dc.identifier.issn | 1502-8143 | |
dc.identifier.uri | http://hdl.handle.net/11250/2498437 | |
dc.description.abstract | 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 result generalizes a result by Vestin (2005) that the optimal policy could be implemented with a price-level targeting regime. We show that the optimal price-level drift in the hybrid target is equal to the degree of price indexation. | nb_NO |
dc.language.iso | eng | nb_NO |
dc.publisher | Norges Bank | nb_NO |
dc.relation.ispartofseries | Working Papers;4/2005 | |
dc.rights | Attribution-NonCommercial-NoDerivatives 4.0 Internasjonal | * |
dc.rights.uri | http://creativecommons.org/licenses/by-nc-nd/4.0/deed.no | * |
dc.subject | JEL: E52 | nb_NO |
dc.subject | JEL: E61 | nb_NO |
dc.subject | JEL: E63 | nb_NO |
dc.subject | price-level target | nb_NO |
dc.subject | inflation persistence | nb_NO |
dc.subject | commitment | nb_NO |
dc.title | Inflation Inertia and the Optimal Hybrid Inflation/Price-Level Target | nb_NO |
dc.type | Working paper | nb_NO |
dc.description.version | publishedVersion | nb_NO |
dc.subject.nsi | VDP::Samfunnsvitenskap: 200::Økonomi: 210::Samfunnsøkonomi: 212 | nb_NO |
dc.source.pagenumber | 8 | nb_NO |