Nominal GDP versus price level targeting: An empirical evaluation
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DOI: 10.1016/j.jeconbus.2019.105890
Abstract: Abstract In response to the ongoing discussion in the literature of the appropriate framework for monetary policy, we compare two of the most frequently discussed alternatives to inflation targeting—targeting either the level of nominal GDP… read more here.
Keywords: nominal gdp; price level; level targeting;
Nominal GDP Targeting and the Taylor Rule on an Even Playing Field
Sign Up to like & getrecommendations! Published in 2019 at "Journal of Money, Credit and Banking"
DOI: 10.1111/jmcb.12602
Abstract: Some economists have advocated nominal GDP targeting as an alternative to the Taylor Rule. These arguments are largely based on the idea that nominal GDP targeting would require less knowledge on the part of policymakers… read more here.
Keywords: rule; output gap; gdp targeting; taylor rule ... See more keywords