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Inflation Targeting and Price-Level-Path Targeting in the Global Economy Model: Some Open Economy Considerations

This paper compares the capability of simple inflation targeting (IT) and pricelevel-path targeting (PLPT) rules to minimize inflation and output gap variability in a two-country, two-sector version of the Global Economy Model calibrated for Canada and the United States. We find that simple PLPT... Full description

1st Person: Coletti, Donald
Additional Persons: Lalonde, René verfasserin; Muir, Dirk verfasserin
Source: in IMF staff papers : a quarterly journal of the IMF Vol. 55, No. 2 (2008), p. 326-338
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Type of Publication: Article
Language: English
Published: 2008
Keywords: research-article
C51
C52
E17
E31
E52
Online: Volltext
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