Article thumbnail

The credibility of the monetary policy "free lunch"

By James Yetman


JEL Classification: E52credibility, monetary policy

OAI identifier:

To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request.

Suggested articles


  1. (2003). 18Appendix 1 To solve the price level targeting model under optimal discretionary policy, optimal discretionary monetary policy will satisfy Vt = minEt[Lt + βVt+1], (A1) where the relevent terms of Vt are Vt
  2. (2000). a seminar held by the Bank of Canada,
  3. (2003). Inflation Targeting: Lessons from the International Experience.” Princeton:
  4. (1995). New Keynesian Economics and the Phillips Curve.”
  5. (1998). On Policy Rules for Price Stability: Discussion.” In Price Stability, Inflation Targets, and Monetary Policy.
  6. (2000). Price Level Targeting versus Inflation Targeting in a Forward Looking Model.” Sveriges Riksbank, Working Paper 106.
  7. (1999). Price-Level Targeting versus Inflation Targeting: A Free Lunch?”
  8. (1993). Rules, Reputation and Macroeconomic Policy Coordination.” Cambridge:
  9. (1998). The Credibility of Monetary Policy: International Evidence Based on Surveys of Expected Inflation.” In Price Stability, Inflation Targets, and Monetary Policy,
  10. (2000). What do New Keynesian Phillips Curves Imply for Price Level Targeting?” Federal Reserve Bank of St.
  11. (2001). When is Price-Level Targeting a Good Idea?”