Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
}
TY - JOUR
T1 - Optimal discretionary monetary policy in a model of asymmetric central bank preferences.
AU - Nobay, A R
AU - Peel, D
PY - 2003/7
Y1 - 2003/7
N2 - 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.
AB - 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.
U2 - 10.1111/1468-0297.t01-1-00149
DO - 10.1111/1468-0297.t01-1-00149
M3 - Journal article
VL - 113
SP - 657
EP - 665
JO - Economic Journal
JF - Economic Journal
SN - 0013-0133
IS - 489
ER -