Variations
Contrast to the usual inflation rate targeting, Laurence Ball proposed targeting on long run inflation, targeting which takes the exchange rate into account and monetary condition index targeting. In his proposal, the monetary condition index is a weighted average of interest rate and exchange rate. It will be easy to put many other things into this monetary condition index.
Read more about this topic: Inflation Targeting
Famous quotes containing the word variations:
“I may be able to spot arrowheads on the desert but a refrigerator is a jungle in which I am easily lost. My wife, however, will unerringly point out that the cheese or the leftover roast is hiding right in front of my eyes. Hundreds of such experiences convince me that men and women often inhabit quite different visual worlds. These are differences which cannot be attributed to variations in visual acuity. Man and women simply have learned to use their eyes in very different ways.”
—Edward T. Hall (b. 1914)