9th Joint International Conference on Information Sciences (JCIS-06)

Inflation Targeting, Learning and Q Volatility in Small Open Economies

Authors
Paul McNelis 0, Guay Lim
Corresponding Author
Paul McNelis
0Fordham University Graduate School of Business
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DOI
https://doi.org/10.2991/jcis.2006.182How to use a DOI?
Keywords
Tobin's Q, learning, monetary policy rules, inflation targets
Abstract
This paper examines the welfare implications of managing asset-price with consumer-price inflation targeting by monetary authorities who have to learn the laws of motion for both inflation rates. Our results show that the Central Bank can improve welfare if it targets both consumer and asset-price inflation with state-contingent Taylor rules rather than conventional linear Taylor rules.
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Proceedings
9th Joint International Conference on Information Sciences (JCIS-06)
Publication Date
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ISBN
978-90-78677-01-7
DOI
https://doi.org/10.2991/jcis.2006.182How to use a DOI?
Open Access
This is an open access article distributed under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - Paul McNelis
AU  - Guay Lim
PY  - NaN/NaN
DA  - NaN/NaN
TI  - Inflation Targeting, Learning and Q Volatility in Small Open Economies
BT  - 9th Joint International Conference on Information Sciences (JCIS-06)
PB  - Atlantis Press
UR  - https://doi.org/10.2991/jcis.2006.182
DO  - https://doi.org/10.2991/jcis.2006.182
ID  - McNelisNaN/NaN
ER  -