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Inflation Targeting as a Means of Achieving Disinflation

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dc.contributor.authorSaborowski, Christian
dc.date.accessioned2012-03-30T07:30:19Z
dc.date.available2012-03-30T07:30:19Z
dc.date.issued2010
dc.description.abstractIn this paper, we take an analytical approach to examine possible adverse effects of the use of inflation targeting as a disinflation regime. The idea is that a strict interpretation of an inflation target may preserve inflationary distortions after price stability is attained. We show that such a policy not only creates a slump in output but may increase macroeconomic volatility substantially in a model in which wages are subject to a Taylor staggering structure. The policy implication is that the problems associated with an excessively rigid inflation targeting policy are even more severe during a disinflationary episode.en
dc.identifier.citationJournal of Economic Dynamics and Control
dc.identifier.issn01651889
dc.identifier.urihttps://hdl.handle.net/10986/4907
dc.language.isoEN
dc.relation.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/igo
dc.rights.holderWorld Bank
dc.subjectMacroeconomics: Production E230
dc.subjectPrice Level
dc.subjectInflation
dc.subjectDeflation E310
dc.subjectBusiness Fluctuations
dc.subjectCycles E320
dc.subjectMonetary Policy E520
dc.titleInflation Targeting as a Means of Achieving Disinflationen
dc.title.alternativeJournal of Economic Dynamics and Controlen
dc.typeJournal Articleen
dc.typeArticle de journalfr
dc.typeArtículo de revistaes
dspace.entity.typePublication
okr.doctypeJournal Article
okr.externalcontentExternal Content
okr.identifier.externaldocumentum1509
okr.journal.nbpages2510-2532
okr.language.supporteden
okr.peerreviewAcademic Peer Review
okr.relation.associatedurlhttp://dx.doi.org/10.1016/j.jedc.2010.06.027
okr.relation.associatedurlhttp://search.ebscohost.com/login.aspx?direct=true&db=eoh&AN=1144592&site=ehost-live
okr.relation.associatedurlhttp://www.elsevier.com/wps/find/journaldescription.cws_home/505547/description#description
okr.volume34
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