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Would price-level targeting destabilise the economy?

Minford, Patrick, Nowell, Eric and Webb, Bruce 2005. Would price-level targeting destabilise the economy? [Working Paper]. Cardiff Economics Working Papers, Cardiff: Cardiff University.

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Abstract

When indexation is endogenous price level targeting slightly adds to economic stability, contrary to widespread fears to the contrary. The aggregate supply curve flattens and the aggregate demand curve steepens, increasing stability in the face of supply shocks.

Item Type: Monograph (Working Paper)
Date Type: Publication
Status: Published
Schools: Business (Including Economics)
Subjects: H Social Sciences > HB Economic Theory
Publisher: Cardiff University
Date of First Compliant Deposit: 30 March 2016
Last Modified: 01 Feb 2017 05:12
URI: http://orca-mwe.cf.ac.uk/id/eprint/77708

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