Copied Inflation versus Price-Level Targeting
Inflation versus Price-Level Targeting
Lukas Heim evaluates the performance of a price-level targeting rule compared to that of a standard inflation targeting rule. The comparison is based on a medium-scale DSGE model which has been estimated based on state-of-the-art Bayesian methods. The model for the Swiss economy is an expanded version of the framework proposed by Gal and Monacelli (2005) as well as Monacelli (2005). It is enriched with habit formation in consumption, price indexation, labor market imperfections, and several additional structural disturbances. The results show that exactly as expected the volatility of inflation is quite significantly lower under the price-level targeting regime, whereas the volatility of the output gap is markedly higher conditional on either productivity or preference shocks. Therefore, the introduction of a price-level targeting regime would likely produce an increase in the volatility of real economic activity conditional on both supply-side and demand-side shocks. Since inflation and output are targeted simultaneously, none of the two policies is strictly dominant.
Price Comparison
| Seller | Contact Seller | List Price | On Sale | Shipping | Best Promo | Final Price | Volume Discount | Financing | Availability | Seller's Page |
|---|---|---|---|---|---|---|---|---|---|---|
|
BEST PRICE 1 Product Purchase
|
|
$39.99 | $39.99 |
|
$39.99 | See Site | In stock | Visit Store |
Reviews
Questions & Answers
Contemporary Capitalism and Civil Society
$129.99
The Glitter Bug: A Branches Book (Unicorn Diaries #9)
$5.24
Kinder- und Jugendkriminalitt
$64.99
Malignes Melanom
$44.99
Ambulatory Electrocardiography
$79.99
Balancing Copyright Law in the Digital Age
$54.99
Kosten und Nutzen der Informationsverarbeitung
$59.99
Rate Processes of Extractive Metallurgy
$109.99
Happy Easter, Curious George by H. A. Rey
$12.99
Heat Shock Protein Human Diseases and Disorders
$169.99
Vanity: 21st Century Selves
$54.99
Edmund Burke and International Relations
$169.99
National Accounts Analysis
$84.99
Arbeitsbedingter Stress in Callcentern
$49.99
BPM Best Practice
$59.99
Autonomous Intelligent Vehicles
$109.00
Pdagogik, die Kinder stark macht
$64.99
Molecular Components of Hepatitis B Virus
$129.00
Cardiovascular Disease in Racial and Ethnic Minorities
$129.00
Koordination von Informationen
$69.99
Risk and Financial Catastrophe
$169.99
Brger, Kriminalitt und Staat
$64.99
Finite Element Analysis of Rotating Beams
$109.99
Bioarchaeology
$139.99
Hazardous Waste and Pollution
$39.99
Eel Science
$149.00
Austrian National Socialism before 1918
$54.99
The Ascent from Nominalism
$169.00
Photonics
$74.99
Dark Tourism in the American West
$119.99
Assessment of Carbon Footprint in Different Industrial Sectors, Volume 2
$109.99
Kompetenzlisten und Lernhinweise zur Diagnose und Frderung
$64.99
Nutrition Management of Inherited Metabolic Diseases
$89.00
Mitarbeiter wirksam motivieren
$37.99
Pollution Threat of Heavy Metals in Aquatic Environments
$39.99
Laser Fundamentals 2
$549.99
Frontiers in Particle Physics
$219.99
Haltung
$29.99
Connected Learning: Origins, Opportunities, and Perspectives of Contemporary Educational Design
$109.00
Bio-Science and Bio-Technology
$39.99
