Economics, Econometrics and Finance
8 years ago

The Key to Economic Stability: Optimal Commitment to Monetary Targets

The Quarterly Journal of Economics
The Optimal Degree of Commitment to an Intermediate Monetary Target
Kenneth Rogoff

Paper Summary

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The article discusses the best level of commitment to a specific monetary target. Researchers analyzed different scenarios to find the optimal degree of commitment. They discovered that a moderate level of commitment is most effective in achieving economic stability.