Optimal Monetary Policy with Overlapping Generations of Policymakers /
In this paper I study the effect of imperfect central bank commitment on inflationary outcomes. I present a model in which the monetary authority is a committee that consists of members who serve overlapping, finite terms. Older and younger generations of Monetary Policy Committee (MPC) members deci...
| Автор: | |
|---|---|
| Формат: | Журнал |
| Мова: | English |
| Опубліковано: |
Washington, D.C. :
International Monetary Fund,
2010.
|
| Серія: | IMF Working Papers; Working Paper ;
No. 2010/032 |
| Предмети: | |
| Онлайн доступ: | Full text available on IMF |