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Dynamic Inconsistency of Monetary Policy: Rules, Reputation, and Flexibility

The paper reviews the literature on dynamic inconsistency of monetary policy, and discusses, also in a formalized way, the different measures how to limit the incentive of policymakers to use inflation to maximize their objective function

Link http://ies.fsv.cuni.cz/st…n/697_op_2005_1_gersl.pdf
Author Gersl, A.
Date 2005
Institute Institute of Economic Studies
Tags monetary, inflation, inconsistency

See also

  1. The Stability and Growth Pact – Essential and Unfeasible
  2. Inflation and Monetary Policy in Russia: Transition Experience and Future Recommendations
  3. Inflation, exchange rates and the role of monetary policy in Albania
  4. Adopting Inflation Targeting: Overview of Economic Preconditions and Institutional Requirements
  5. Quarterly Forecast on the Eastern EU Member States-3rd quarter, 2007

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