Is there a Case for Price‑level Targeting?
收藏Organisation for Economic Co-operation and Development2026-04-11 收录
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There is a case, but there are also counter-arguments. With sufficient forward-looking behaviour among
firms and households, price-level targeting can act as a powerful built-in stabiliser through automatic shifts in
inflation expectations. This stabilisation mechanism reduces the need for large shifts in policy rates, alleviating
the risk of...
