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Nominal income targeting in an open-economy optimizing model

โœ Scribed by Bennett T. McCallum; Edward Nelson


Book ID
114220949
Publisher
Elsevier Science
Year
1999
Tongue
English
Weight
252 KB
Volume
43
Category
Article
ISSN
0304-3932

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A model of inflation targeting in an ope
โœ Jay H. Levin ๐Ÿ“‚ Article ๐Ÿ“… 2004 ๐Ÿ› John Wiley and Sons ๐ŸŒ English โš– 186 KB

## 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