2014•arXiv (Cornell University)Open access

The role of the "Maximizing Output Growth Inflation Rate" in monetary\n policy

Dominique Pépin

Abstract

The paper discusses the role of monetary policy when potential output depends\non the inflation rate. If the intention of the central bank is to maximize\nactual output growth, then it has to be credibly committed to a strict\ninflation targeting rule, and to take the MOGIR (the Maximizing Output Growth\nInflation Rate) as the target.\n

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Key concepts: Economics, Monetary policy, Inflation (cosmology), Inflation targeting, Monetary economics, Inflation rate, Macroeconomics, Keynesian economics