The conservative central banker revisited: Too conservative is more costly than too liberal - Forschungsportal der Justus-Liebig-Universität Gießen:

Journalartikel

The conservative central banker revisited: Too conservative is more costly than too liberal

Autorenliste: Tillmann, P

Jahr der Veröffentlichung: 2008

Seiten: 737-741

Zeitschrift: European Journal of Political Economy

Bandnummer: 24

Heftnummer: 4

DOI Link: https://doi.org/10.1016/j.ejpoleco.2008.09.006

Verlag: Elsevier

Abstract:

A conservative central banker, who puts more weight on inflation stabilization than the social planner, solves the stabilization bias of discretionary monetary policy. This note shows that the welfare costs of deviating from the optimal degree of monetary conservatism are asymmetric. A too conservative central banker is more costly than a too liberal central banker.

Autoren/Herausgeber

- Uni.-Prof. Dr. Peter Heinrich Tillmann

Zitierstile

Harvard-Zitierstil: Tillmann, P. (2008) The conservative central banker revisited: Too conservative is more costly than too liberal, European Journal of Political Economy, 24(4), pp. 737-741. https://doi.org/10.1016/j.ejpoleco.2008.09.006

APA-Zitierstil: Tillmann, P. (2008). The conservative central banker revisited: Too conservative is more costly than too liberal. European Journal of Political Economy. 24(4), 737-741. https://doi.org/10.1016/j.ejpoleco.2008.09.006