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

Preview

PDF (The central bank inflation bias in the presence of asymmetric preferences and non-normal shocks) - Draft Version
Download (147Kb) | Preview

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:	UNSPECIFIED
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:	15 Apr 2013 11:57
Identification Number:
URI:	http://eprints.lancs.ac.uk/id/eprint/45566

Actions (login required)

View Item