Search Results
Conference Paper
Can the central bank achieve price stability?
Journal Article
The case for price stability
The testimony of Cleveland Federal Reserve Bank President W. Lee Hoskins before the U.S. House of Representatives' Subcommittee on Domestic Monetary Policy, supporting House Joint Resolution 409, which would establish achievement of price stability as the primary policy goal of the central bank.
Journal Article
Can the central bank achieve price stability? (commentary)
Journal Article
Can the central bank achieve price stability?
Journal Article
Phase 3 1/2
Conference Paper
Can the central bank achieve price stability? (commentary)
Journal Article
Statement to Congress, February 6, 1990 (price stability)
Report
Sticky price models of the business cycle: can the contract multiplier solve the persistence problem?
We construct a quantitative equilibrium model with price setting and use it to ask whether with staggered price setting monetary shocks can generate business cycle fluctuations. These fluctuations include persistent output fluctuations along with the other defining features of business cycles, like volatile investment and smooth consumption. We assume that prices are exogenously sticky for a short period of time. Persistent output fluctuations require endogenous price stickiness in the sense that firms choose not to change prices very much when they can do so. We find that for a wide range of ...
Newsletter
Fiscal policy and price stability: the case of Italy, 1992–98
Many authorities at home and abroad questioned Italy's ability to meet the strict criteria to join the European Monetary Union. The author looks at the interaction between fiscal policy and monetary policy in Italy between 1992, when it exited the European Exchange Rate Mechanism, and 1998, when an official announcement was made that it would join the union.