This analysis addresses changing views of the role and effectiveness of monetary policy, inflation targeting as an "effective monetary policy," monetary policy and short-run (output) stabilization, and problems in implementing a short-run stabilization policy.Monetary policy

Marcela M. Williams

Robert H. Rasche

English

Research Papers in Economics

28 The recent estimates are in the “Numerical Parameters of Inflation Report Probability Distributions,

29 We have found quantitative projections/forecasts of real output in published inflation/monetary reports of the central banks of Chile,

477 30 Impulse response functions that are typical of those derived from VAR analysis can be found in Christiano, Eichenbaum, and Evans

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REVIEW APPENDIX Characteristics of Inflation-Targeting Regimes of Countries Country Inflation measure Current target value (%) Inflation targets (%) Australia Headline CPI 2-3 2-3 Treasury underlying CPI until

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The effectiveness of monetary policy

http://research.stlouisfed.org/publications/review/07/09/Rasche.pdf

The effectiveness of monetary policy

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Research Papers in Economics