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:
Journal Article
Journal or Publication Title:
Economics Bulletin
Uncontrolled Keywords:
/dk/atira/pure/subjectarea/aacsb/disciplinebasedresearch
Subjects:
ID Code:
45566
Deposited By:
Deposited On:
11 Jul 2011 18:34
Refereed?:
Yes
Published?:
Published
Last Modified:
05 Jul 2020 03:07