Nobay, A R and Peel, D (2003) Optimal discretionary monetary policy in a model of asymmetric central bank preferences. Economic Journal, 113 (489). pp. 657-665. ISSN 0013-0133Full text not available from this repository.
This paper considers optimal monetary policy in the context of the central bank adopting an asymmetric objective function. Our results show that under asymmetric preferences, many of the extant results on the time consistency problem need no longer hold.
|Journal or Publication Title:||Economic Journal|
|Departments:||Lancaster University Management School > Economics|
|Deposited On:||11 Jul 2011 19:10|
|Last Modified:||26 Jul 2012 18:57|
Actions (login required)