Should Central Banks Target Consumer Prices or the Exchange Rate?
In this article we consider two arguments suggesting that monetary authorities in an open economy should target output price inflation and not consumer price inflation. The first suggests that output price inflation corresponds to the distortions caused by price rigidity. The second shows how policy...
| Main Authors: | , , |
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| Format: | Journal article |
| Language: | English |
| Published: |
2006
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