Hidden Bibliographic Details
| Other authors / contributors: | Hunt, Ben, 1958-
International Monetary Fund. Research Department.
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| ISBN: | 1451902700
9781451902709
1462370055
9781462370054
1452756252
9781452756257
1282109561
9781282109568
9786613802453
661380245X
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| Notes: | Includes bibliographical references (pages 21-24).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
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. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | To achieve their price stability objectives, many monetary authorities use the gap between current and potential output as an indicator of future price pressures. This policy-setting strategy has been criticized because potential output estimates have a high degree of uncertainty. In this paper, estimates of potential output uncertainty in New Zealand are used to examine the output gap's usefulness. The results suggest that although output gap uncertainty leads to more inflation and output variability, policy based directly and/or indirectly on the output gap leads to better macroeconomic stability than policy based only on observable inflation and output growth.
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| Other form: | Print version: Gaiduch, Victor. Inflation targeting under potential output uncertainty. [Washington, D.C.] : International Monetary Fund, Research Dept., ©2000
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| Standard no.: | 10.5089/9781451902709.001
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