Nominal anchors for monetary policy: a doctrinal analysis





Monetary policy, nominal anchors, price-level stabilisation


Volatility of the general price level has long been an issue of concern and debate in economics and government policies. Periods of price-level instability have stimulated proposals for monetary reform aimed either at price-level stabilisation or mitigating the adverse effects of price-level instability. The nominal anchor issue refers to the orientation of monetary policy towards the goal of providing a stable price level.


JEL Codes: E52


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How to Cite

ASCHHEIM, J., & TAVLAS, G. (2013). Nominal anchors for monetary policy: a doctrinal analysis. PSL Quarterly Review, 47(191).