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Credibility begins with a clear commitment to price stability

Author

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  • Jerry L. Jordan

Abstract

An argument that the central bank should adopt a policy of price stability based on an explicit objective for the Consumer Price Index, which the Cleveland Fed President believes would provide a nominal anchor for the dollar as well as a clear standard by which to measure the success of monetary policy.

Suggested Citation

  • Jerry L. Jordan, 1993. "Credibility begins with a clear commitment to price stability," Economic Commentary, Federal Reserve Bank of Cleveland, issue Oct.
    • Handle: RePEc:fip:fedcec:y:1993:i:oct1
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    Citations

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    Cited by:

    1. Peter Ferderer, J., 1998. "The determinants of monetary target credibility," The Quarterly Review of Economics and Finance, Elsevier, vol. 38(4), pages 825-841.
    2. Dimitri B. Papadimitriou & L. Randall Wray, 1994. "Flying Blind: The Federal Reserve's Experiment with Unobservables," Economics Working Paper Archive wp_124, Levy Economics Institute.
    3. Willem Thorbeck, 1997. "Disinflationary Monetary Policy and the Distribution of Income," Macroeconomics 9711008, University Library of Munich, Germany.

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