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Nominal anchors for monetary policy: a doctrinal analysis

Author

Listed:
  • J. ASCHHEIM

    (The George Washington University)

  • G.S. TAVLAS

    (International Monetary Fund)

Abstract

Volatility of the general price level has long been an issue of concern and debate in economics and government policies. Periods of price-level instability have stimulated proposals for monetary reform aimed either at price-level stabilisation or mitigating the adverse effects of price-level instability. The nominal anchor issue refers to the orientation of monetary policy towards the goal of providing a stable price level.

Suggested Citation

  • J. Aschheim & G.S. Tavlas, 1994. "Nominal anchors for monetary policy: a doctrinal analysis," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 47(191), pages 469-494.
    • Handle: RePEc:psl:bnlqrr:1994:45
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    File URL: http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/10536/10421
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    References listed on IDEAS

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    Cited by:

    1. Binder, Carola Conces, 2016. "Estimation of historical inflation expectations," Explorations in Economic History, Elsevier, vol. 61(C), pages 1-31.
    2. Aschheim, Joseph & Tavlas, George S., 2004. "Academic exclusion: the case of Alexander Del Mar," European Journal of Political Economy, Elsevier, vol. 20(1), pages 31-60, March.

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    More about this item

    Keywords

    Monetary policy; nominal anchors; price-level stabilisation;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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