A Re-Evaluation of the Choice of an Inflation Target in the Wake of the Global Financial Crisis

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dc.contributor.authorGuender A
dc.contributor.authorFroyen R
dc.date.accessioned2020-01-21T03:46:49Z
dc.date.available2020-01-21T03:46:49Z
dc.date.issued2020en
dc.date.updated2020-01-14T21:58:25Z
dc.description.abstractThrough an appropriate choice of inflation objective – a real-exchange-rate-adjusted (REX) inflation target - the central bank can limit fluctuations in real economic activity which have become a cause of great concern in recent years in many small open economies. REX inflation targeting dominates CPI targeting from the standpoint of output gap stabilization. CPI inflation targeting dominates REX inflation targeting from the standpoint of stabilizing inflation, nominal interest rates and real exchange rates. These results help inform ongoing discussions of possible alternatives for the existing flexible inflation targeting framework.en
dc.identifier.citationGuender A, Froyen R (2020). A Re-Evaluation of the Choice of an Inflation Target in the Wake of the Global Financial Crisis. New Zealand Economic Papers.en
dc.identifier.issn0077-9954
dc.identifier.urihttp://hdl.handle.net/10092/17867
dc.language.isoen
dc.subjectCPIen
dc.subjectREXen
dc.subjectDomestic Inflation Targetsen
dc.subjectBroad vs. Narrow Mandateen
dc.subject.anzsrcFields of Research::38 - Economics::3801 - Applied economics::380107 - Financial economicsen
dc.titleA Re-Evaluation of the Choice of an Inflation Target in the Wake of the Global Financial Crisisen
dc.typeJournal Articleen
uc.collegeUC Business School
uc.departmentDepartment of Economics and Finance
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