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- W1592551143 abstract "This paper derives a central bank's objective function and optimal policy rule for an economy with both CPI and PPI inflation rates. It implements constrained-optimal policy rules with minimal information requirement, and evaluates the robustness of these simple rules when the central bank may not know the exact sources of shocks or nominal rigidities. One of the main findings is that monetary policy that ignores PPI inflation rate or PPI sector shocks can result in significant welfare loss." @default.
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- W1592551143 date "2004-02-01" @default.
- W1592551143 modified "2023-09-27" @default.
- W1592551143 title "Inflation to target : what inflation to target?" @default.
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