Estimating the implicit inflation target : an application to U.S. monetary policy /
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| Author / Creator: | Leigh, Daniel, author. |
|---|---|
| Imprint: | Washington, D.C. : International Monetary Fund, European Dept., ©2005. |
| Description: | 1 online resource (24 pages) : illustrations |
| Language: | English |
| Series: | IMF working paper, 2227-8885 ; WP/05/77 IMF working paper ; WP/05/77. |
| Subject: | |
| Format: | E-Resource Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12496489 |
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| 050 | 4 | |a HG3881.5.I58 |b W67 no.05/77 | |
| 100 | 1 | |a Leigh, Daniel, |e author. | |
| 245 | 1 | 0 | |a Estimating the implicit inflation target : |b an application to U.S. monetary policy / |c prepared by Daniel Leigh. |
| 260 | |a Washington, D.C. : |b International Monetary Fund, European Dept., |c ©2005. | ||
| 300 | |a 1 online resource (24 pages) : |b illustrations | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF working paper, |x 2227-8885 ; |v WP/05/77 | |
| 504 | |a Includes bibliographical references (pages 22-24). | ||
| 520 | 3 | |a This paper proposes a new method of estimating the Taylor rule with a time-varying implicit inflation target and a time-varying natural rate of interest. The inflation target and the natural rate are modeled as random walks and are estimated using maximum likelihood and the Kalman filter. I apply this method to U.S. monetary policy over the past 25 years and find considerable time variation in the implicit target, confirming hypotheses about "opportunistic disinflation" and the recent "deflation scare." | |
| 506 | |3 Use copy |f Restrictions unspecified |2 star |5 MiAaHDL | ||
| 533 | |a Electronic reproduction. |b [Place of publication not identified] : |c HathiTrust Digital Library, |d 2010. |5 MiAaHDL | ||
| 538 | |a Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. |u http://purl.oclc.org/DLF/benchrepro0212 |5 MiAaHDL | ||
| 583 | 1 | |a digitized |c 2010 |h HathiTrust Digital Library |l committed to preserve |2 pda |5 MiAaHDL | |
| 588 | 0 | |a Print version record. | |
| 505 | 0 | |a Contents -- I. INTRODUCTION -- II. METHODOLOGY -- III. DATA -- IV. RESULTS -- V. ROBUSTNESS ANALYSIS -- VI. CONCLUSION -- THE NATURAL RATE OF INTEREST -- REFERENCES | |
| 546 | |a English. | ||
| 650 | 0 | |a Inflation (Finance) |z United States |x Econometric models. | |
| 650 | 0 | |a Monetary policy |z United States |x Econometric models. | |
| 650 | 6 | |a Inflation |z États-Unis |x Modèles économétriques. | |
| 650 | 6 | |a Politique monétaire |z États-Unis |x Modèles économétriques. | |
| 650 | 7 | |a Inflation (Finance) |x Econometric models. |2 fast |0 (OCoLC)fst00972453 | |
| 650 | 7 | |a Monetary policy |x Econometric models. |2 fast |0 (OCoLC)fst01025234 | |
| 651 | 7 | |a United States. |2 fast |0 (OCoLC)fst01204155 | |
| 655 | 4 | |a Electronic books. | |
| 710 | 2 | |a International Monetary Fund. |b European Department, |e issuing body. |0 http://id.loc.gov/authorities/names/n86100166 | |
| 776 | 0 | 8 | |i Print version: |a Leigh, Daniel. |t Estimating the implicit inflation target. |d Washington, D.C. : International Monetary Fund, European Dept., ©2005 |w (OCoLC)60327419 |
| 830 | 0 | |a IMF working paper ; |v WP/05/77. |0 http://id.loc.gov/authorities/names/no89010263 | |
| 856 | 4 | 0 | |u http://elibrary.imf.org/view/journals/001/2005/077/001.2005.issue-077-en.xml |y INTERNATIONAL MONETARY FUND |
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| 928 | |t Library of Congress classification |a HG3881.5.I58W67 no.05/77 |l Online |c UC-FullText |u http://elibrary.imf.org/view/journals/001/2005/077/001.2005.issue-077-en.xml |z INTERNATIONAL MONETARY FUND |g ebooks |i 12140516 | ||