BIROn - Birkbeck Institutional Research Online

    Monetary policy with uncertain central bank preferences

    Sibert, Anne (2002) Monetary policy with uncertain central bank preferences. European Economic Review 46 (6), pp. 1093-1109. ISSN 0014-2921.

    Full text not available from this repository.

    Abstract

    This paper considers monetary policy when policy makers’ preferences are private information. I show that in the first period of a two-period term, all policy makers but the least inflation averse inflate less – but respond more to shocks – than if there were no private information. Moderately inflation-averse policy makers may reduce their inflation most. A tendency toward increased conservatism in their second period increases inflation in the first. With T<∞ period terms, inflation depends solely on the policy maker's time left in office. With unchanging preferences and no discounting, inflation is lower the longer he has left.

    Metadata

    Item Type: Article
    School: Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School
    Depositing User: Sarah Hall
    Date Deposited: 28 Jul 2020 06:46
    Last Modified: 02 Aug 2023 18:01
    URI: https://eprints.bbk.ac.uk/id/eprint/32705

    Statistics

    Activity Overview
    6 month trend
    0Downloads
    6 month trend
    206Hits

    Additional statistics are available via IRStats2.

    Archive Staff Only (login required)

    Edit/View Item
    Edit/View Item