Research Catalog

Title

Monetary Policy at Price Stability [electronic resource]: A Review of Some Issues / Malcolm Edey ... [et al]

Publication

Paris : OECD Publishing, 1995.

Details

Additional Authors

• Edey, Malcolm.
• Funke, Norbert.
• Kennedy, Mike.
• Palerm, Ángel.

Description

31 p.; 21 x 29.7cm.

Summary

In this paper policy issues related to the operation of monetary policy in a low inflation environment are discussed. The successful reduction of inflation rates in a number of OECD countries in recent years arguably represents a regime shift that is likely to affect the operation of monetary policy. Some of the practical issues involved are the potential existence of a trade-off between inflation variability and output variability, asymmetries in the short-run Phillips curve, the interaction between monetary and fiscal policies, the effectiveness of monetary policy instruments, the appropriate specification of the price stability objective, as well as the credibility of monetary policy in a near price-stability environment. The results indicate that under many circumstances none of these issues should cause major difficulties at price stability. Furthermore, the analysis tends to strengthen the argument for maintaining relatively tight control over inflation. Sound fiscal policies ...

Series Statement

OECD Economics Department Working Papers, 1815-1973 ; no.158

Uniform Title

OECD Economics Department Working Papers, no.158.

Subject

Economics

LCCN

10.1787/251241682348

OCLC

oecd-lib-004603

Title

Monetary Policy at Price Stability [electronic resource]: A Review of Some Issues / Malcolm Edey ... [et al]

Imprint

Paris : OECD Publishing, 1995.

Series

OECD Economics Department Working Papers, 1815-1973 ; no.158

OECD Economics Department Working Papers, 1815-1973 ; no.158.

Connect to:

http://dx.doi.org/10.1787/251241682348

Indexed Term

Economics

Added Author

Edey, Malcolm.

Funke, Norbert.

Kennedy, Mike.

Palerm, Ángel.

Other Standard Identifier

10.1787/251241682348 doi