Cristiano Cantore
@ccantore.bsky.social
Divemaster and Prof. of Economics. #Glasto #finoallafine
How does a central bank's "dual mandate" perform in a HANK framework?
Key findings:
1️⃣ Dual mandates often lead to instability.
2️⃣ Public spending plays a critical role.
3️⃣ Fixes? Price level targeting and/or stabilizing consumption inequality. 3/3
Key findings:
1️⃣ Dual mandates often lead to instability.
2️⃣ Public spending plays a critical role.
3️⃣ Fixes? Price level targeting and/or stabilizing consumption inequality. 3/3
December 13, 2024 at 7:01 AM
How does a central bank's "dual mandate" perform in a HANK framework?
Key findings:
1️⃣ Dual mandates often lead to instability.
2️⃣ Public spending plays a critical role.
3️⃣ Fixes? Price level targeting and/or stabilizing consumption inequality. 3/3
Key findings:
1️⃣ Dual mandates often lead to instability.
2️⃣ Public spending plays a critical role.
3️⃣ Fixes? Price level targeting and/or stabilizing consumption inequality. 3/3
Our research uncovers the perils of inflation targeting in HANK economies with nominal fiscal rules when the central bank follows a dual mandate of price and output stability. 2/3
December 13, 2024 at 7:01 AM
Our research uncovers the perils of inflation targeting in HANK economies with nominal fiscal rules when the central bank follows a dual mandate of price and output stability. 2/3