Kiel Working Papers, Kiel Institute for World Economics
No 1851:
Disinflationary Booms?
Christian Merkl
Abstract: This paper shows that announced credible disinflations
under inflation targeting lead to a boom in a standard New Keynesian model
(i.e. a disinflationary boom). This finding is robust with respect to
various parameterizations and disinflationary experiments. Thus, it differs
from previous findings about disinflationary booms under monetary
targeting
Keywords: Disinflation, Disinflationary Boom, Inflation Targeting; (follow links to similar papers)
JEL-Codes: E30,; E31; (follow links to similar papers)
12 pages, July 2013
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