search query: @indexterm TARGET SEARCH PROBLEM / total: 14
reference: 8 / 14
| Author: | McCallum, B. |
| Title: | Choice of target for monetary policy |
| Journal: | Economic Affairs
1995 : AUTUMN, VOL. 15:4, p. 35-41 |
| Index terms: | MONETARY ECONOMICS MONETARY POLICY TARGET SEARCH PROBLEM |
| Language: | eng |
| Abstract: | The author argues that some measure of aggregate spending such as nominal GDP is preferable to monetary aggregates or a price level index as a target for monetary policy. A growth-rate version would be preferable to a growing-levels version, but a weighted average of the two cold be better still. Recent years have witnessed an upsurge of interest in issues regarding targets for monetary policy. This upsurge has occurred not only among academics but also practitioners, including central bankers. |
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