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• W2069102719 abstract "This paper evaluates the performance of two alternative policy rules, a forward-looking rule and a spontaneous adjustment rule, under alternative inflation targets, in terms of output losses in a macroeconomic model, using European Union data. The simulations suggest that forward-looking rules contribute to macroeconomic stability and monetary policy credibility, and that a positive inflation target, as opposed to zero inflation, leads to higher and less volatile output. These results are robust to changes in the specification of the model and time period. The same methodology applied to individual countries supports country-specific flexible inflation targeting." @default.
• W2069102719 created "2016-06-24" @default.
• W2069102719 creator A5018581801 @default.
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• W2069102719 date "2005-01-01" @default.
• W2069102719 modified "2023-09-23" @default.
• W2069102719 title "Inflation Targeting and Output Growth: Empirical Evidence for the European Union" @default.
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• W2069102719 doi "https://doi.org/10.2139/ssrn.888135" @default.
• W2069102719 hasPublicationYear "2005" @default.
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