Lukas Heim evaluates the performance of a price-level targeting rule compared to that of a standard inflation targeting rule. The comparison is based on a medium-scale DSGE model which has been estimated based on state-of-the-art Bayesian methods. The model for the Swiss economy is an expanded version of the framework proposed by Galì and Monacelli (2005) as well as Monacelli (2005). It is enriched with habit formation in consumption, price indexation, labor market imperfections, and several additional structural disturbances. The results show that exactly as expected the volatility of inflation is quite significantly lower under the price-level targeting regime, whereas the volatility of the output gap is markedly higher conditional on either productivity or preference shocks. Therefore, the introduction of a price-level targeting regime would likely produce an increase in the volatility of real economic activity conditional on both supply-side and demand-side shocks. Since inflation and output are targeted simultaneously, none of the two policies is strictly dominant.
Le informazioni nella sezione "Riassunto" possono far riferimento a edizioni diverse di questo titolo.
Lukas Heim obtained his MSc in International and Monetary Economics at the University of Bern. His research interests include macroeconomics, monetary economics and econometrics.
Lukas Heim evaluates the performance of a price-level targeting rule compared to that of a standard inflation targeting rule. The comparison is based on a medium-scale DSGE model which has been estimated based on state-of-the-art Bayesian methods. The model for the Swiss economy is an expanded version of the framework proposed by Galì and Monacelli (2005) as well as Monacelli (2005). It is enriched with habit formation in consumption, price indexation, labor market imperfections, and several additional structural disturbances. The results show that exactly as expected the volatility of inflation is quite significantly lower under the price-level targeting regime, whereas the volatility of the output gap is markedly higher conditional on either productivity or preference shocks. Therefore, the introduction of a price-level targeting regime would likely produce an increase in the volatility of real economic activity conditional on both supply-side and demand-side shocks. Since inflation and output are targeted simultaneously, none of the two policies is strictly dominant.
Contents
Target Groups
Researchers and students in the field of economy with an interest in monetary policy
The Author
Lukas Heim obtained his MSc in International and Monetary Economics at the University of Bern. His research interests include macroeconomics, monetary economics and econometrics.
Le informazioni nella sezione "Su questo libro" possono far riferimento a edizioni diverse di questo titolo.
EUR 6,90 per la spedizione da Germania a Italia
Destinazione, tempi e costiEUR 9,70 per la spedizione da Germania a Italia
Destinazione, tempi e costiDa: Buchpark, Trebbin, Germania
Condizione: Sehr gut. Zustand: Sehr gut | Seiten: 84 | Sprache: Englisch | Produktart: Bücher. Codice articolo 25123879/12
Quantità: 1 disponibili
Da: moluna, Greven, Germania
Condizione: New. Dieser Artikel ist ein Print on Demand Artikel und wird nach Ihrer Bestellung fuer Sie gedruckt. Publication in the field of economic sciencesMonetary Policy in Switzerland.- Comparison of Inflation and Price-Level Targeting.Lukas Heim evaluates the performance of a price-level targeting rule compared to that of a standard inflation targetin. Codice articolo 5123838
Quantità: Più di 20 disponibili
Da: BuchWeltWeit Ludwig Meier e.K., Bergisch Gladbach, Germania
Taschenbuch. Condizione: Neu. This item is printed on demand - it takes 3-4 days longer - Neuware -Lukas Heim evaluates the performance of a price-level targeting rule compared to that of a standard inflation targeting rule. The comparison is based on a medium-scale DSGE model which has been estimated based on state-of-the-art Bayesian methods. The model for the Swiss economy is an expanded version of the framework proposed by Galì and Monacelli (2005) as well as Monacelli (2005). It is enriched with habit formation in consumption, price indexation, labor market imperfections, and several additional structural disturbances. The results show that - exactly as expected - the volatility of inflation is quite significantly lower under the price-level targeting regime, whereas the volatility of the output gap is markedly higher conditional on either productivity or preference shocks. Therefore, the introduction of a price-level targeting regime would likely produce an increase in the volatility of real economic activity conditional on both supply-side and demand-side shocks. Since inflation and output are targeted simultaneously, none of the two policies is strictly dominant. 84 pp. Englisch. Codice articolo 9783658082277
Quantità: 2 disponibili
Da: AHA-BUCH GmbH, Einbeck, Germania
Taschenbuch. Condizione: Neu. Druck auf Anfrage Neuware - Printed after ordering - Lukas Heim evaluates the performance of a price-level targeting rule compared to that of a standard inflation targeting rule. The comparison is based on a medium-scale DSGE model which has been estimated based on state-of-the-art Bayesian methods. The model for the Swiss economy is an expanded version of the framework proposed by Galì and Monacelli (2005) as well as Monacelli (2005). It is enriched with habit formation in consumption, price indexation, labor market imperfections, and several additional structural disturbances. The results show that - exactly as expected - the volatility of inflation is quite significantly lower under the price-level targeting regime, whereas the volatility of the output gap is markedly higher conditional on either productivity or preference shocks. Therefore, the introduction of a price-level targeting regime would likely produce an increase in the volatility of real economic activity conditional on both supply-side and demand-side shocks. Since inflation and output are targeted simultaneously, none of the two policies is strictly dominant. Codice articolo 9783658082277
Quantità: 1 disponibili
Da: buchversandmimpf2000, Emtmannsberg, BAYE, Germania
Taschenbuch. Condizione: Neu. Neuware -Lukas Heim evaluates the performance of a price-level targeting rule compared to that of a standard inflation targeting rule. The comparison is based on a medium-scale DSGE model which has been estimated based on state-of-the-art Bayesian methods. The model for the Swiss economy is an expanded version of the framework proposed by Galì and Monacelli (2005) as well as Monacelli (2005). It is enriched with habit formation in consumption, price indexation, labor market imperfections, and several additional structural disturbances. The results show that ¿ exactly as expected ¿ the volatility of inflation is quite significantly lower under the price-level targeting regime, whereas the volatility of the output gap is markedly higher conditional on either productivity or preference shocks. Therefore, the introduction of a price-level targeting regime would likely produce an increase in the volatility of real economic activity conditional on both supply-side and demand-side shocks. Since inflation and output are targeted simultaneously, none of the two policies is strictly dominant.Springer Gabler in Springer Science + Business Media, Tiergartenstr. 15-17, 69121 Heidelberg 84 pp. Englisch. Codice articolo 9783658082277
Quantità: 2 disponibili
Da: Ria Christie Collections, Uxbridge, Regno Unito
Condizione: New. In. Codice articolo ria9783658082277_new
Quantità: Più di 20 disponibili
Da: California Books, Miami, FL, U.S.A.
Condizione: New. Codice articolo I-9783658082277
Quantità: Più di 20 disponibili
Da: Books Puddle, New York, NY, U.S.A.
Condizione: New. Codice articolo 26356963381
Quantità: 4 disponibili
Da: Revaluation Books, Exeter, Regno Unito
Paperback. Condizione: Brand New. 2015 edition. 82 pages. 8.27x5.83x0.19 inches. In Stock. Codice articolo x-3658082275
Quantità: 2 disponibili
Da: Majestic Books, Hounslow, Regno Unito
Condizione: New. Print on Demand. Codice articolo 355560426
Quantità: 4 disponibili