Learning and Misperception: Implications for Price-Level Targeting

Monetary policy strategies that target the price level have been advocated as a more effective way to provide economic stimulus in a deep recession when conventional monetary policy is limited by the zero lower bound on nominal interest rates. Yet, the effectiveness of these strategies depends on a...

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Veröffentlicht in:	Finance and economics discussion series 2019-11, Vol.2019.0 (78)
Hauptverfasser:	Bodenstein, Martin, Hebden, James, Winkler, Fabian
Format:	Artikel
Sprache:	eng
Schlagworte:	Central banks Interest rates Monetary policy
Online-Zugang:	Volltext
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