Inflation Band Targeting and Optimal Inflation Contracts
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In this paper we examine how target ranges work in the context of a Barro-Gordon (1983) type model, in which the time-inconsistency problem stems from political pressures from the government. We show that target ranges turn out to be an excellent way to cope with the time-inconsistency problem, and
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美国国家经济研究局创建时间：
2006-07-01
