publication . Article . 2014

Analiza porównawcza konkurencyjnych mierników inflacji w strategii bezpośredniego celu inflacyjnego na przykładzie Japonii i USA

Gamrot, Michał;
Open Access Polish
  • Published: 01 Jan 2014
  • Publisher: Instytut Ekonomii, Uniwersytet Łódzki
  • Country: Poland
Abstract
Monetary policy requires the selection of a specific inflation measure. Because of serious methodological differences between competing inflation indices, the choice of a particular index may have serious consequences for money supply, interest rates and nominal GDP. This article describes the theoretical assumptions of three competing inflation measures (CPI, core inflation, and the GDP deflator) in the context of monetary policy goals. The theoretical analysis is focused on explaining the causes for the differences between competing inflation measures (especially in the context of supply-side shocks) and specifying situations when they are optimal. The empiric...
Subjects
free text keywords: monetary policy, inflation, inflation target, polityka monetarna, inflacja, cel inflacyjny
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