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Inflation versus Price-Level Targeting
Lukas Heim
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Description for Inflation versus Price-Level Targeting
Paperback. Series: BestMasters. Num Pages: 81 pages, 9 black & white illustrations, 3 black & white tables, biography. BIC Classification: KCA; KCP. Category: (G) General (US: Trade). Dimension: 210 x 148 x 5. Weight in Grams: 126.
Lukas Heim evaluates the performance of a price-level targeting rule compared to that of a standard inflation targeting rule. The comparison is based on a medium-scale DSGE model which has been estimated based on state-of-the-art Bayesian methods. The model for the Swiss economy is an expanded version of the framework proposed by Galì and Monacelli (2005) as well as Monacelli (2005). It is enriched with habit formation in consumption, price indexation, labor market imperfections, and several additional structural disturbances. The results show that – exactly as expected – the volatility of inflation is quite significantly lower under the price-level targeting ... Read more
Lukas Heim evaluates the performance of a price-level targeting rule compared to that of a standard inflation targeting rule. The comparison is based on a medium-scale DSGE model which has been estimated based on state-of-the-art Bayesian methods. The model for the Swiss economy is an expanded version of the framework proposed by Galì and Monacelli (2005) as well as Monacelli (2005). It is enriched with habit formation in consumption, price indexation, labor market imperfections, and several additional structural disturbances. The results show that – exactly as expected – the volatility of inflation is quite significantly lower under the price-level targeting ... Read more
Product Details
Format
Paperback
Publication date
2014
Publisher
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Germany
Number of pages
81
Condition
New
Series
BestMasters
Number of Pages
69
Place of Publication
, Germany
ISBN
9783658082277
SKU
V9783658082277
Shipping Time
Usually ships in 15 to 20 working days
Ref
99-15
About Lukas Heim
Lukas Heim obtained his MSc in International and Monetary Economics at the University of Bern. His research interests include macroeconomics, monetary economics and econometrics.
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