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Flexibles Inflationsziel für die Geldpolitik: nur neuer Wein in alten Schläuchen?
[Flexible Inflation Target for Monetary Policy]

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  • Friedrich L. Sell

Abstract

Zusammenfassung Mit altgedienten Sprachbildern sollte man sparsam umgehen. Und doch: Die von Jerome Powell, dem Chef der Federal Reserve (Fed), unlängst vorgeschlagene zukünftige Zielzone für Inflationsraten, möglicherweise verbunden mit einer Anhebung der durchschnittlichen, von der Fed angestrebten Preissteigerungsrate, erinnert stark an ein von der Deutschen Bundesbank in den 1990er Jahren durchaus erfolgreich praktiziertes Modell. Damals stand allerdings nicht die Inflationsrate selbst, sondern die Wachstumsrate der Geldmenge im Fokus.

Suggested Citation

  • Friedrich L. Sell, 2021. "Flexibles Inflationsziel für die Geldpolitik: nur neuer Wein in alten Schläuchen? [Flexible Inflation Target for Monetary Policy]," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 101(1), pages 58-62, January.
    • Handle: RePEc:spr:wirtsc:v:101:y:2021:i:1:d:10.1007_s10273-021-2826-4
    DOI: 10.1007/s10273-021-2826-4
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    References listed on IDEAS

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    6. Frederic S. Mishkin & Adam S. Posen, 1997. "Inflation targeting: lessons from four countries," Economic Policy Review, Federal Reserve Bank of New York, vol. 3(Aug), pages 9-110.
    7. Laskar, Daniel, 1994. "Time inconsistency of the optimal monetary policy : a case for target zones," CEPREMAP Working Papers (Couverture Orange) 9426, CEPREMAP.
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    1. Friedrich L. Sell, 2021. "Ist das neue Inflationsziel der EZB noch zeitgemäß?," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 101(9), pages 688-691, September.

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    More about this item

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes

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