BIROn - Birkbeck Institutional Research Online

    Discretion vs. timeless perspective under model-consistent stabilization objectives

    Petrella, Ivan and Rossi, R. and Santoro, E. (2014) Discretion vs. timeless perspective under model-consistent stabilization objectives. Economics Letters 122 (1), pp. 84-88. ISSN 0165-1765.

    Full text not available from this repository.

    Abstract

    Recent literature has reported situations in which discretion dominates timeless perspective in the presence of elements that reduce the slope of the New Keynesian Phillips curve. Considering a model-consistent welfare metric inhibits this mechanism in the standard New Keynesian framework.

    Metadata

    Item Type: Article
    Keyword(s) / Subject(s): Monetary policy, Discretion, Timeless perspective, Loss of social welfare
    School: Birkbeck Schools and Departments > School of Business, Economics & Informatics > Economics, Mathematics and Statistics
    Depositing User: Administrator
    Date Deposited: 22 Nov 2013 13:56
    Last Modified: 14 Feb 2014 10:35
    URI: http://eprints.bbk.ac.uk/id/eprint/8763

    Statistics

    Downloads
    Activity Overview
    0Downloads
    175Hits

    Additional statistics are available via IRStats2.

    Archive Staff Only (login required)

    Edit/View Item Edit/View Item