Unconventional views on inflation control : forward guidance, the neo-Fisherian approach, and the fiscal theory of the price level

Spahn, Peter

Unconventional views on inflation control : forward guidance, the neo-Fisherian approach, and the fiscal theory of the price level

dc.contributor.author	Spahn, Peter	de
dc.date.accessioned	2024-04-08T08:55:33Z
dc.date.available	2024-04-08T08:55:33Z
dc.date.created	2018-03-05
dc.date.issued	2018
dc.description.abstract	In recent years, various "unconventional" views have been advanced that promise to offer new analytical insights and policy approaches that are suited to control the value of money, particularly in a constellation of low growth and unemployment. Whereas Forward Guidance attempts to decrease the real interest rate by low nominal rates and by creating excessive inflationary expectations, the Neo-Fisherian approach suggests to increase nominal rates immediately to the long-run equilibrium value that corresponds to the inflation target. The Fiscal Theory of the Price Level believes that goods prices jump to a level that validates the long-run sustainability condition of government debt. All three views are criticized for analytical and empirical reasons.	en
dc.identifier.swb	50038536X
dc.identifier.uri	https://hohpublica.uni-hohenheim.de/handle/123456789/6247
dc.identifier.urn	urn:nbn:de:bsz:100-opus-14643
dc.language.iso	eng
dc.relation.ispartofseries	Hohenheim discussion papers in business, economics and social sciences; 2018,02
dc.rights.license	publ-mit-pod	en
dc.rights.license	publ-mit-pod	de
dc.rights.uri	http://opus.uni-hohenheim.de/doku/lic_mit_pod.php
dc.subject	Interest rate policy	en
dc.subject	Zero lower bound	en
dc.subject	Low-growth equilibrium	en
dc.subject.ddc	330
dc.subject.gnd	Inflation	de
dc.subject.gnd	Geldtheorie	de
dc.title	Unconventional views on inflation control : forward guidance, the neo-Fisherian approach, and the fiscal theory of the price level	de
dc.type.dcmi	Text	de
dc.type.dini	WorkingPaper	de
local.access	uneingeschränkter Zugriff	en
local.access	uneingeschränkter Zugriff	de
local.bibliographicCitation.publisherPlace	Universität Hohenheim	de
local.export.bibtex	@techreport{Spahn2018, url = {https://hohpublica.uni-hohenheim.de/handle/123456789/6247}, author = {Spahn, Peter}, title = {Unconventional views on inflation control : forward guidance, the neo-Fisherian approach, and the fiscal theory of the price level}, year = {2018}, school = {Universität Hohenheim}, series = {Hohenheim discussion papers in business, economics and social sciences}, }
local.export.bibtexAuthor	Spahn, Peter
local.export.bibtexKey	Spahn2018
local.export.bibtexType	@techreport
local.faculty.number	3	de
local.institute.number	520	de
local.opus.number	1464
local.series.issueNumber	2018,02
local.series.title	Hohenheim discussion papers in business, economics and social sciences
local.university	Universität Hohenheim	de
local.university.faculty	Faculty of Business, Economics and Social Sciences	en
local.university.faculty	Fakultät Wirtschafts- und Sozialwissenschaften	de
local.university.institute	Institute for Economics	en
local.university.institute	Institut für Volkswirtschaftslehre	de

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