Inflation Targeting, Learning and Q Volatility in Small Open Economies
Paul McNelis 0, Guay Lim
0Fordham University Graduate School of Business
Available Online October 2006.
- https://doi.org/10.2991/jcis.2006.182How to use a DOI?
- Tobin's Q, learning, monetary policy rules, inflation targets
- 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.
- 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 - 2006/10 DA - 2006/10 TI - Inflation Targeting, Learning and Q Volatility in Small Open Economies BT - 9th Joint International Conference on Information Sciences (JCIS-06) PB - Atlantis Press SP - 565 EP - 568 SN - 1951-6851 UR - https://doi.org/10.2991/jcis.2006.182 DO - https://doi.org/10.2991/jcis.2006.182 ID - McNelis2006/10 ER -