Lars E.O. Svensson
Abstract
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During the past two decades, maintenance of low inflation, “price stability, ” has become the principal focus of central banks around the world. At the same time, the view has emerged that monetary policy is better suited than fiscal policy for short-run stabilization purposes.
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During the past two decades, maintenance of low inflation, “price stability, ” has become the principal focus of central banks around the world. At the same time, the view has emerged that monetary policy is better suited than fiscal policy for short-run stabilization purposes.
Key concepts: Output gap, Inflation targeting, Monetary policy, Inflation (cosmology), Economics, Transparency (behavior), Monetary economics, Price of stability