Price-level targeting versus inflation targeting over the long-term

Book English OPEN
Hatcher, Michael; Cardiff University;
(2011)
  • Publisher: Cardiff University
  • Subject: HB

This paper investigates the long-term impact of price-level targeting on social welfare in an overlapping generations model in which the young save for old age by investing in productive capital and indexed and nominal government bonds. A key feature of the model is tha... View more
  • References (11)
    11 references, page 1 of 2

    Amano, R., Ambler, S. and P. Ireland (2007), Price-level targeting, indexation and welfare, working paper.

    Ambler, S. (2009), Price-level targeting and stabilisation policy: A survey, Journal of Economic Surveys, 23, 5, 974-997.

    Artus, P. (1995), Macro Economie (collection Economica Poche), Economica, Paris.

    Bank of Canada (2006), Renewal of the inflation-control target: Background information, Bank of Canada: Ottawa.

    Bank of Canada (2009), Bank of Canada Review, Spring 2009, Ottawa: Bank of Canada.

    Barro, R.J. (1974), Are government bonds net wealth? Journal of Political Economy 82, 1095-1117.

    Bordo, M..D., Dittmar, R.D. and Gavin, W.T. (2007), Gold, Fiat Money and Price Stability, B.E. Journal of Macroeconomics, Berkeley Electronic Press, 7(1).

    Börsch-Supan, A. (2000), Pension reform in Germany, World Economics 1, 81-101.

    Dittmar, R., Gavin, W.T. and Kydland, F.E. (1999), Price-level uncertainty and inflation targeting, Federal Reserve Bank of St. Louis Review, July/August 1999, 23- 33.

    Doepke, M. and Schnieder, M. (2006), Inflation and the redistribution of nominal wealth, Journal of Political Economy, 114, 1069-1097.

  • Metrics
Share - Bookmark