| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5062200 | Economics Letters | 2008 | 4 Pages |
Abstract
Inflation is often given the central role in discussions of monetary policy. Is this emphasis warranted? We investigate this in a DSGE model and find: (1) One can implement the optimal interest rate policy using only employment as an instrument, (2) using inflation as an instrument would lead to lower utility.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Jean-Pascal Bénassy,