Inflation Targets as Focal Points

Nicola Viegi

No 2, Working Papers from Economic Research Southern Africa

Abstract: In a world characterised by noisy information and conflicting signals, no Central Bank is always able to affect private sector expectations. Based on Morris and Shin’s model, monetary policy then becomes an information game, in which individuals form their expectations based on all the information that is available to them (public and private). However individual […]

Date: 2005-09-01
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Journal Article: Inflation Targets as Focal Points (2008)
Working Paper: Inflation Targets as Focal Points (2005)
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