Quantitative goals for monetary policy
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Quantitative goals for monetary policy

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Published by National Bureau of Economic Research in Cambridge, MA .
Written in English

Subjects:

  • Monetary policy.

Book details:

Edition Notes

StatementAntonio Fatas, Ilian Mihov, Andrew K. Rose.
SeriesNBER working paper series ;, working paper 10846, Working paper series (National Bureau of Economic Research : Online) ;, working paper no. 10846.
ContributionsMihov, Ilian., Rose, Andrew, 1959-, National Bureau of Economic Research.
Classifications
LC ClassificationsHB1
The Physical Object
FormatElectronic resource
ID Numbers
Open LibraryOL3475783M
LC Control Number2005615185

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We study empirically the macroeconomic effects of an explicit de jure quantitative goal for monetary policy. Quantitative goals take three forms: exchange rates, money growth rates, and inflation targets. ABSTRACT We study empirically the macroeconomic effects of an explicit de jure quantitative goal for monetary policy. Quantitative goals take three forms: exchange rates, money growth rates, and inflation targets. We analyze the effects on inflation. Abstract We study empirically the macroeconomic effects of an explicit de jure quantitative goal for monetary policy. Quantitative goals take three forms: exchange rates, money growth rates, and inflation targets.   1. Introduction. The macroeconomic effects of quantitative monetary targets have been well analyzed theoretically, suggesting an explicit de jure quantitative goal for monetary policy improves its transparency. As an example, Fatás, Mihov, and Rose () identify transparent targets for monetary policies with quantitative goals that take three forms: exchange rates, money growth .

Downloadable (with restrictions)! We study empirically the macroeconomic effects of an explicit de jure quantitative goal for monetary policy. Quantitative goals take three forms: exchange rates, money growth rates, and inflation targets. We analyse the effects on inflation of both having a quantitative target, and of hitting a declared target; we also consider effects on output volatility.   At his press conference in late July, Powell said that, as a result of the review, the Fed “in the near future” will revise its Statement on Longer-Run Goals and Monetary Policy Quantitative Goals for Monetary Policy Journal of Money, Credit and Banking, 39 (5), (pp). The authors study empirically the macroeconomic effects of an explicit de jure quantitative goal for monetary policy. Quantitative goals take three forms: exchange rates, money growth rates, and inflation targets. Monetary policy has several important aims including eliminating unemployment, stabilizing prices, economic growth and equilibrium in the balance of payments. Monetary policy is planned to fulfill all these goals at once. Everyone agrees with these ambitions, but the path to achieve them is the subject of heated contention.

  During periods of extreme economic crisis, traditional monetary policy tools may no longer be effective in achieving their goals. Unconventional monetary policy, such as quantitative . We study empirically the macroeconomic effects of an explicit de jure quantitative goal for monetary policy. Quantitative goals take three forms: exchange rates, money growth rates, and inflation targets. We analyze the effects on inflation of both having a quantitative target and hitting a declared target. Our empirical work uses an annual. “Monetary policy involves the influence on the level and composition of aggregate demand by the manipulation of interest rates and the availability of credit”-D.C. ry policy implies those measures designed to ensure an efficient operation of the economic system or set of specific objectives through its influence on the supply, cost and availability of money. Quantitative Goals for Monetary Policy Antonio Fatás, Ilian Mihov, and Andrew K. Rose* Revised: June 2, Abstract We study empirically the macroeconomic effects of an explicit de jure quantitative goal for monetary policy. Quantitative goals take three forms: exchange rates, money growth rates, and inflation targets.