An edition of Estimating the implicit inflation target (2005)

Estimating the implicit inflation target

an application to U.S. monetary policy

by

Estimating the implicit inflation target
Daniel Leigh, Daniel Leigh
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Last edited by WorkBot
December 15, 2009 | History
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An edition of Estimating the implicit inflation target (2005)

Estimating the implicit inflation target

an application to U.S. monetary policy

by

This paper proposes a new method of estimating the Taylor rule with a time-varying implicit inflation target and a time-varying natural rate of interest. The inflation target and the natural rate are modeled as random walks and are estimated using maximum likelihood and the Kalman filter. I apply this method to U.S. monetary policy over the past 25 years and find considerable time variation in the implicit target, confirming hypotheses about "opportunistic disinflation" and the recent "deflation scare."

Publish Date
Publisher
International Monetary Fund, European Dept.
Language
English
Pages
24

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Subjects

Econometric models, Inflation (Finance), Monetary policy

Places

United States
Edition Availability
Cover of: Estimating the implicit inflation target
Estimating the implicit inflation target: an application to U.S. monetary policy
2005, International Monetary Fund, European Dept.
in English
Cover of: Estimating the Implicit Inflation Target
Estimating the Implicit Inflation Target: An Application to U. S. Monetary Policy
2005, International Monetary Fund
in English
Cover of: Estimating the Implicit Inflation Target
Estimating the Implicit Inflation Target: An Application to U. S. Monetary Policy
2005, International Monetary Fund
in English
Cover of: Estimating the Implicit Inflation Target
Estimating the Implicit Inflation Target: An Application to U. S. Monetary Policy
2005, International Monetary Fund
in English

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Book Details

Edition Notes

"April 2005."

Includes bibliographical references (p. 22-24).

Also available on the World Wide Web.

Published in
Washington, D.C
Series
IMF working paper -- WP/05/77

The Physical Object

Pagination
24 p. :
Number of pages
24

Edition Identifiers

Open Library
OL19852072M

Work Identifiers

Work ID
OL9893232W

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Download catalog record: RDF / JSON / OPDS | Wikipedia citation
December 15, 2009 Edited by WorkBot link works
October 24, 2008 Created by ImportBot Imported from University of Toronto MARC record