Search: inflation target

Sort by: Relevance Date
1–8 of 8 collapsed search results for inflation target

RBA Glossary definition for inflation target

inflation target – A tool to guide monetary policy expressed as a preferred range or figure for the rate of increase in prices over a period. In Australia, the inflation target is between 2 and 3 per cent per annum on average over the course of the business cycle.

RBA Glossary definition for inflation

inflation – A measure of the change (increase) in the general level of prices.

Search Results

Results

31 Dec 2005 RDP 2005-04
Tim Robinson and Andrew Stone
3 per cent and an inflation target of 2.5 per cent, the midpoint of the 2–3 per cent medium-term target band. ... Since i = r π, this might represent an economy where the neutral real rate, r, is 2 per cent, and target inflation, π, is 1 per cent;
https://www.rba.gov.au/publications/rdp/2005/2005-04/results.html

Monetary Policy, Asset-price Bubbles and the Zero Lower Bound

1 Jun 2005 RDP 2005-04
Tim Robinson and Andrew Stone
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/2005/2005-04.html

How Might the Zero Lower Bound Influence an Activist Policy-maker?

31 Dec 2005 RDP 2005-04
Tim Robinson and Andrew Stone
We also explore the implications of our simulation results for policy questions such as the appropriate choice of inflation target, and how this may depend on key economic parameters which may ... a figure when deciding upon an inflation target –
https://www.rba.gov.au/publications/rdp/2005/2005-04/how-mig-zer-low-bound.html

Methodology

31 Dec 2005 RDP 2005-04
Tim Robinson and Andrew Stone
We assume that in year 0 the economy is in equilibrium, with both output and inflation at their target values, y. ... t. , which will minimise the weighted sum of the expected future squared deviations of inflation and output from their target levels:.
https://www.rba.gov.au/publications/rdp/2005/2005-04/methodology.html

References

31 Dec 2005 RDP 2005-04
Tim Robinson and Andrew Stone
Reifschneider D and JC Williams (2000), ‘Three lessons for monetary policy in a low-inflation era’,. ... Bulletin. , March, pp 1–8. Svensson LEO (1997), ‘Inflation forecast targeting: implementing and monitoring inflation targets’,.
https://www.rba.gov.au/publications/rdp/2005/2005-04/references.html

Appendix A: Recent Literature

31 Dec 2005 RDP 2005-04
Tim Robinson and Andrew Stone
Finally, they include the role (if any) of the choice of monetary policy regime – and in particular the decision whether or not to adopt a price-level or inflation target – in ... a state where the ZLB becomes a constraint on policy – especially if
https://www.rba.gov.au/publications/rdp/2005/2005-04/appendix-a.html

Conclusions

31 Dec 2005 RDP 2005-04
Tim Robinson and Andrew Stone
The first concerns the appropriate level of the steady-state neutral nominal interest rate – the sum of the economy's neutral real interest rate and policy-makers' choice of target inflation ... The results in Table 1 also shed light on how the ZLB
https://www.rba.gov.au/publications/rdp/2005/2005-04/conclusions.html

Introduction

31 Dec 2005 RDP 2005-04
Tim Robinson and Andrew Stone
might occur with a lag (as the bubble's collapse flows through to lower inflation, so reducing the amount by which the real interest rate can be set below neutral). ... Hence, this constraint may influence decisions about aspects of the policy framework
https://www.rba.gov.au/publications/rdp/2005/2005-04/introduction.html