Finland advocates price-level targeting

A new paper published by the Bank of Finland makes the case for moving to price-level targeting.

The author argues that as inflation has been low and has had a low variance, price-level targeting may be more attractive as price expectations will be held more firmly on a medium-term target in the event of shocks. Price-level targeting is unlikely to involve higher costs than inflation targeting, the author adds.

Click here to read the paper.

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