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Inflation targeting : should it be modeled as an instrument rule or a targeting rule?

Author: Lars E O Svensson; National Bureau of Economic Research.
Publisher: Cambridge, MA : National Bureau of Economic Research, ©2002.
Series: Working paper series (National Bureau of Economic Research), no. 8925.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
Abstract: The paper discusses how current inflation targeting should be modeled, and argues that it is better represented as a commitment to a targeting rule (a rule specifying operational objectives for monetary policy or a condition for the target variables), than as a commitment to a simple instrument rule (like a Taylor rule).
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Additional Physical Format: Print version:
Svensson, Lars E.O.
Inflation targeting.
Cambridge, MA : National Bureau of Economic Research, ©2002
(OCoLC)49788996
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Lars E O Svensson; National Bureau of Economic Research.
OCLC Number: 50014907
Notes: "May 2002."
Reproduction Notes: Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2010. MiAaHDL
Description: 1 online resource (11 pages).
Details: Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.
Series Title: Working paper series (National Bureau of Economic Research), no. 8925.
Responsibility: Lars E.O. Svensson.

Abstract:

Abstract: The paper discusses how current inflation targeting should be modeled, and argues that it is better represented as a commitment to a targeting rule (a rule specifying operational objectives for monetary policy or a condition for the target variables), than as a commitment to a simple instrument rule (like a Taylor rule).

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