Delegating optimal monetary policy inertia

DOI10.1016/j.jedc.2014.08.019zbMath1402.91409OpenAlexW3122691914MaRDI QIDQ1991934

Florin O. Bilbiie

Publication date: 2 November 2018

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jedc.2014.08.019

zbMATH Keywords

inertiaoptimal delegationstabilization biasdiscretion and commitmentinflation, output gap growth and nominal income growth targetingtimeless-optimal policy

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64)

Cites Work

• Using a projection method to analyze inflation bias in a micro-founded model
• The time inconsistency of delegation-based time inconsistency solutions in monetary policy
• Limited asset markets participation, monetary policy and (inverted) aggregate demand logic
• IMPLEMENTING INTERNATIONAL MONETARY COOPERATION THROUGH INFLATION TARGETING
• Optimal Interest-Rate Smoothing

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