Estimated delivery 3-12 business days
Format Paperback
Condition Brand New
Description Lukas Heim evaluates the performance of a price-level targeting rule compared to that of a standard inflation targeting rule.
Lukas Heim evaluates the performance of a price-level targeting rule compared to that of a standard inflation targeting rule. The comparison is based on a medium-scale DSGE model which has been estimated based on state-of-the-art Bayesian methods. The model for the Swiss economy is an expanded version of the framework proposed by Galì and Monacelli (2005) as well as Monacelli (2005). It is enriched with habit formation in consumption, price indexation, labor market imperfections, and several additional structural disturbances. The results show that – exactly as expected – the volatility of inflation is quite significantly lower under the price-level targeting regime, whereas the volatility of the output gap is markedly higher conditional on either productivity or preference shocks. Therefore, the introduction of a price-level targeting regime would likely produce an increase in the volatility of real economic activity conditional on both supply-side and demand-side shocks. Since inflation and output are targeted simultaneously, none of the two policies is strictly dominant.
Grand Eagle Retail is the ideal place for all your shopping needs! With fast shipping, low prices, friendly service and over 1,000,000 in stock items - you're bound to find what you want, at a price you'll love!
Shipping is FREE to any address in USA.
Please view eBay estimated delivery times at the top of the listing. Deliveries are made by either USPS or Courier. We are unable to deliver faster than stated.
International deliveries will take 1-6 weeks.
NOTE: We are unable to offer combined shipping for multiple items purchased. This is because our items are shipped from different locations.
If you wish to return an item, please consult our Returns Policy as below:
Please contact Customer Services and request "Return Authorisation" before you send your item back to us. Unauthorised returns will not be accepted.
Returns must be postmarked within 4 business days of authorisation and must be in resellable condition.
Returns are shipped at the customer's risk. We cannot take responsibility for items which are lost or damaged in transit.
For purchases where a shipping charge was paid, there will be no refund of the original shipping charge.
If you have any questions please feel free to Contact Us.