Change search
ReferencesLink to record
Permanent link

Direct link
Eurosystem Monetary Targeting: Lessons from U.S. Data
Federal Reserve Bank of San Fransisco.
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
1999 (English)Report (Other academic)
Abstract [en]

Using small empirical model of inflation, output, and money estimated on U.S. data, we compare the relative performance of monetary targeting and inflation targeting. The results show that monetary targeting would be quite inefficient, with both higher inflatoin and output variability. This is true even with a deterministic money demand formulation. in this framework, there is thus no support for the prominent role given to money growth in the Eurosystem's monetary policy strategy.

Place, publisher, year, edition, pages
Stockholm: IIES , 1999. , 35 p.
Seminar Paper / Institute for International Economic Studies, Stockholm University, ISSN 0347-8769 ; 672
Keyword [en]
inflation targeting, monetary targeting, ECB
National Category
URN: urn:nbn:se:su:diva-41097OAI: diva2:328305
Available from: 2010-07-02 Created: 2010-07-02 Last updated: 2010-08-16Bibliographically approved

Open Access in DiVA

fulltext(386 kB)540 downloads
File information
File name FULLTEXT01.pdfFile size 386 kBChecksum SHA-512
Type fulltextMimetype application/pdf

Search in DiVA

By author/editor
Svensson, Lars E.O.
By organisation
Institute for International Economic Studies

Search outside of DiVA

GoogleGoogle Scholar
Total: 540 downloads
The number of downloads is the sum of all downloads of full texts. It may include eg previous versions that are now no longer available

Total: 42 hits
ReferencesLink to record
Permanent link

Direct link