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

Borradores de Economia
Number: 
783
Published: 
Classification JEL: 
E52, E58
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
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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