Title of article
Uncertainty and the inflation bias of monetary policy
Author/Authors
Douglas K. Pearce، نويسنده , , Motoshi Sobue، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 1997
Pages
5
From page
203
To page
207
Abstract
The dynamic inconsistency model predicts that monetary policy will produce a positive inflation rate. The introduction of multiplicative uncertainty into the model suggests that this bias towards inflation will be lower the more uncertain the effects of monetary policy.
Keywords
Monetary policy , Dynamic inconsistency , Uncertainty
Journal title
Economics Letters
Serial Year
1997
Journal title
Economics Letters
Record number
434444
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