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The central bank inflation bias in the presence of asymmetric preferences and non-normal shocks

Peel, D and Christodoulakis, G (2009) The central bank inflation bias in the presence of asymmetric preferences and non-normal shocks. Economics Bulletin, 29 (3). pp. 1608-1620. ISSN 1545-2921

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    Abstract

    We investigate the nature of the inflation bias in a model that exhibits asymmetries in preferences and non–normality in shocks but simplifies to the classic Barro-Gordon problem as a special case. The inflation bias is shown to depend on the trade-off between preference, structural and the scale and shape parameters of the model.

    Item Type: Article
    Journal or Publication Title: Economics Bulletin
    Subjects:
    Departments: Lancaster University Management School > Economics
    ID Code: 45566
    Deposited By: ep_importer_pure
    Deposited On: 11 Jul 2011 19:34
    Refereed?: Yes
    Published?: Published
    Last Modified: 09 Apr 2014 22:33
    Identification Number:
    URI: http://eprints.lancs.ac.uk/id/eprint/45566

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