Inflation Targeting and an Optimal Taylor Rule for an Open Economy: Evidence for Colombia 1990-2011
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منابع مشابه
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The justification for inflation targeting rests on three core propositions. The first is called ‘lean against the wind’, which refers to fact that the monetary authority contracts (expands) aggregate demand below capacity when the actual rate of inflation is above (below) target. The second is ‘the divine coincidence’, which means that stabilizing the rate of inflation around its target is tant...
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We would like to thank Adam Cagliarini and Ben McLean for superb research assistance, and participants at the conference for their comments. The views expressed in this paper are those of the authors and not necessarily those of the Reserve Bank of Australia.
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Inflation Targeting in a Small Open Economy
We would like to thank Philip Lowe, Lars Svensson and David Gruen for helpful suggestions. We are extremely grateful to Luci Ellis for training us in the use of Mathematica 3.0. Any remaining errors are ours. The views expressed are those of the authors and should not be attributed to the Reserve Bank of Australia.
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2016
ISSN: 1556-5068
DOI: 10.2139/ssrn.2891692