Price-level targeting : an omelette that requires breaking some inflation-targeting eggs?

Acuña-Roa, Luisa F.; Parra-Polanía, Julián Andrés

Price-level targeting : an omelette that requires breaking some inflation-targeting eggs?

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Borradores de Economía; No. 783

Date published

2013-09-20

Date

2013-09-20

Authors

Acuña-Roa, Luisa F.
Parra-Polanía, Julián Andrés

Document language

spa

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Las opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva.

The opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors.

Abstract

This paper can be divided into two main parts. The first one, using a simple example by Minford (2004) and Hatcher (2011), gives the reader a basic introduction to understand the comparison between two monetary-policy regimes: Inflation Targeting (IT) and