Optimal monetary policy under inflation targeting based on an instrument rule. (Q1853708)
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scientific article; zbMATH DE number 1857194
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Optimal monetary policy under inflation targeting based on an instrument rule. |
scientific article; zbMATH DE number 1857194 |
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Optimal monetary policy under inflation targeting based on an instrument rule. (English)
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22 January 2003
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This paper appends an instrument rule to a simple stochastic macroeconomic model and examines the optimal setting of the policy parameter under inflation targeting. It is shown that the size of the policy parameter depends on the sources of uncertainty, the policymaker's preferences, and both parameters of the model.
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Optimal monetary policy
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Inflation targeting
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Instrument rule
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