Optimal discretionary monetary policy in a model of asymmetric central bank preferences

被引：110
|
作者：
Nobay, AR [1 ]
Peel, DA
机构：
[1] Univ London London Sch Econ & Polit Sci, Financial Markets Grp, London WC2A 2AE, England
[2] Univ Wales Coll Cardiff, Cardiff CF1 3NS, S Glam, Wales
来源：
ECONOMIC JOURNAL | 2003年 / 113卷 / 489期
关键词：
D O I：
10.1111/1468-0297.t01-1-00149
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper considers optimal monetary policy in the context of the central bank adopting an asymmetric objective function. Our results show that under asymmetric preferences, many of the extant results on the time consistency problem need no longer hold.
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页码：657 / 665
页数：9
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