The optimal perception of inflation persistence is zero

被引：4
|
作者：
Leitemo, Kai [1 ]
机构：
[1] Norwegian Sch Management BI, N-0442 Oslo, Norway
来源：
SCANDINAVIAN JOURNAL OF ECONOMICS | 2007年 / 109卷 / 01期
关键词：
monetary policy; time inconsistency; inflation persistence; MONETARY-POLICY; TARGETING RULES;
D O I：
10.1111/j.1467-9442.2007.00483.x
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study shows that, in an economy with inflation persistence, it is always welfare improving for a central bank that operates under discretion to behave as if there were no inflation persistence. Under reasonable assumptions about inflation persistence, all of the inefficiency associated with discretionary policymaking is then removed.
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页码：107 / 113
页数：7
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