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Inflation and Price Level Targeting in a New Keynesian Model

โœ Scribed by Jagjit S. Chadha; Charles Nolan


Book ID
108550265
Publisher
John Wiley and Sons
Year
2002
Tongue
English
Weight
738 KB
Volume
70
Category
Article
ISSN
1463-6786

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## Abstract This paper develops a model of inflation targeting in a small open economy under floating exchange rates. The central bank follows a simple Taylor rule to achieve a target inflation rate, and the inflation process itself is determined by an expectations augmented Phillips curve mechanis