haku: @author Bernanke, B. / yhteensä: 4
viite: 2 / 4
| Tekijä: | Bernanke, B. Mihov, I. |
| Otsikko: | What does the Bundesbank target? |
| Lehti: | European Economic Review
1997 : JUN, VOL. 41:6, p. 1025-1053 |
| Asiasana: | ECONOMICS MONETARY POLICY BANKING |
| Kieli: | eng |
| Tiivistelmä: | Although its primary ultimate objective is price stability, the Bundesbank has drawn a distinction between its money-focused strategy and the inflation targeting approach recently adopted by a number of central banks. The authors show that, holding constant the current forecast of inflation, German monetary policy responds very little to changes in forecasted money growth. The authors conclude that the Bundesbank is much better described as an inflation targeter than as money targeter. |
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