Search Results

Showing results 1 to 2 of approximately 2.

(refine search)
SORT BY: PREVIOUS / NEXT
Keywords:price stability 

Speech
Monetary policy: a 'data dependent' approach: remarks at the New Jersey Bankers Association's Economic Leadership Forum, Somerset, New Jersey.

Remarks at the New Jersey Bankers Association's Economic Leadership Forum, Somerset, New Jersey.
Speech , Paper 304

Working Paper
Raising the Inflation Target: How Much Extra Room Does It Really Give?

Some, but less than intended. The reason is a shift in the behavior of the private sector: Prices adjust more frequently, lowering the potency of monetary policy. We quantitatively investigate this channel across different models, based on a calibration using micro data. By raising the target from 2 percent to 4 percent, the monetary authority gets only between 0.51 and 1.60 percentage points of effective extra policy room for monetary policy (not 2 percentage points as intended). Getting 2 percentage points of effective extra room requires raising the target to more than 4 percent. Taking ...
Working Papers , Paper 202016

FILTER BY year

FILTER BY Series

Speech 1 items

Working Papers 1 items

FILTER BY Content Type

Speech 1 items

Working Paper 1 items

FILTER BY Author

FILTER BY Jel Classification

E31 1 items

E52 1 items

E58 1 items

PREVIOUS / NEXT