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Discretion vs. timeless perspective under model-consistent stabilization objectives

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Discretion vs. timeless perspective under model-consistent stabilization objectives. / Petrella, Ivan; Rossi, Raffaele; Santoro, Emiliano.
In: Economics Letters, Vol. 122, No. 1, 01.2014, p. 84-88.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Petrella, I, Rossi, R & Santoro, E 2014, 'Discretion vs. timeless perspective under model-consistent stabilization objectives', Economics Letters, vol. 122, no. 1, pp. 84-88. https://doi.org/10.1016/j.econlet.2013.11.004

APA

Petrella, I., Rossi, R., & Santoro, E. (2014). Discretion vs. timeless perspective under model-consistent stabilization objectives. Economics Letters, 122(1), 84-88. https://doi.org/10.1016/j.econlet.2013.11.004

Vancouver

Petrella I, Rossi R, Santoro E. Discretion vs. timeless perspective under model-consistent stabilization objectives. Economics Letters. 2014 Jan;122(1):84-88. doi: 10.1016/j.econlet.2013.11.004

Author

Petrella, Ivan ; Rossi, Raffaele ; Santoro, Emiliano. / Discretion vs. timeless perspective under model-consistent stabilization objectives. In: Economics Letters. 2014 ; Vol. 122, No. 1. pp. 84-88.

Bibtex

@article{4a75a1d8ed0d4612be36110c59fe1894,
title = "Discretion vs. timeless perspective under model-consistent stabilization objectives",
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.",
keywords = "Monetarypolicy, Discretion, Timeless perspective, Loss of social welfare",
author = "Ivan Petrella and Raffaele Rossi and Emiliano Santoro",
year = "2014",
month = jan,
doi = "10.1016/j.econlet.2013.11.004",
language = "English",
volume = "122",
pages = "84--88",
journal = "Economics Letters",
issn = "0165-1765",
publisher = "Elsevier",
number = "1",

}

RIS

TY - JOUR

T1 - Discretion vs. timeless perspective under model-consistent stabilization objectives

AU - Petrella, Ivan

AU - Rossi, Raffaele

AU - Santoro, Emiliano

PY - 2014/1

Y1 - 2014/1

N2 - 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.

AB - 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.

KW - Monetarypolicy

KW - Discretion

KW - Timeless perspective

KW - Loss of social welfare

U2 - 10.1016/j.econlet.2013.11.004

DO - 10.1016/j.econlet.2013.11.004

M3 - Journal article

VL - 122

SP - 84

EP - 88

JO - Economics Letters

JF - Economics Letters

SN - 0165-1765

IS - 1

ER -