000			02005cam a22003377 4500
001			w6512
003			NBER
005			20211020113859.0
006			m o d
007			cr cnu||||||||
008			210910s1998 mau fo 000 0 eng d
100	1		_aRudebusch, Glenn D. _919861
245	1	0	_aPolicy Rules for Inflation Targeting / _cGlenn D. Rudebusch, Lars E. O. Svensson.
260			_aCambridge, Mass. _bNational Bureau of Economic Research _c1998.
300			_a1 online resource: _billustrations (black and white);
490	1		_aNBER working paper series _vno. w6512
500			_aApril 1998.
520	3		_aPolicy rules that are consistent with inflation targeting are examined in a small macroeconomic model of the US economy. We compare the properties and outcomes of explicit instrument rules' as well as targeting rules.' The latter, which imply implicit instrument rules, may be closer to actual operating procedures of inflation-targeting central banks. We find that inflation forecasts are central for good policy rules under inflation targeting. Some simple instrument and targeting rules do remarkably well relative to the optimal rule; others, including some that are often used as representing inflation targeting, do less well.
530			_aHardcopy version available to institutional subscribers
538			_aSystem requirements: Adobe [Acrobat] Reader required for PDF files.
538			_aMode of access: World Wide Web.
588	0		_aPrint version record
690		7	_aE52 - Monetary Policy _2Journal of Economic Literature class.
690		7	_aE58 - Central Banks and Their Policies _2Journal of Economic Literature class.
700	1		_aSvensson, Lars E. O. _921366
710	2		_aNational Bureau of Economic Research.
830		0	_aWorking Paper Series (National Bureau of Economic Research) _vno. w6512.
856	4	0	_uhttps://www.nber.org/papers/w6512
856			_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w6512
942			_2ddc _cW-PAPER
999			_c341769 _d300331