Gradualism in Monetary Policy: A Time-Consistency Problem?
收藏NBER2015-09-01 更新2025-01-04 收录
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https://www.nber.org/papers/w21569
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资源简介：
We develop a model of monetary policy with two key features: (i) the central bank has private information about its long-run target for the policy rate; and (ii) the central bank is averse to bond-market volatility. In this setting, discretionary monetary policy is gradualist, or inertial, in the
提供机构：
美国国家经济研究局
创建时间：
2015-09-01
