Search Results

No results found.

(refine search)
SORT BY: PREVIOUS / NEXT
Keywords:Average inflation targeting 

Working Paper
Distributional Considerations for Monetary Policy Strategy

We show that makeup strategies, such as average inflation targeting and price-level targeting, can be more effective than a flexible inflation targeting strategy in overcoming the obstacles created by the effective lower bound in a heterogeneous agent New Keynesian (HANK) model. We also show that the macroeconomic stabilization benefits from such alternative strategies can be substantially larger in a HANK environment than in a representative agent New Keynesian model. We argue that gains in employment outcomes from switching to an alternative strategy would generate disproportionate ...
Finance and Economics Discussion Series , Paper 2020-073

FILTER BY Content Type

FILTER BY Author

FILTER BY Jel Classification

D31 1 items

E30 1 items

E52 1 items

PREVIOUS / NEXT