Inflation versus price-level targeting (with P. Minford)
Inflation versus price-level targeting: A new survey of theory and empirics
Inflation versus price-level targeting: A new survey of theory and empirics
Michael Hatcher, University of Southampton
Michael Hatcher, University of Southampton
Patrick Minford, Cardiff University
Published on voxeu, CEPR’s Policy Portal on May 11 2014.
Price stability is the key goal of almost every central bank in the world. But does that mean stable price levels or inflation rates? The main difference between inflation targeting and price-level targeting is the consequence of missing the target.
Continue reading here.