The conservative central banker revisited: Too conservative is more costly than too liberal - Research portal of Justus Liebig University Giessen:

Journal article

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

Authors list: Tillmann, P

Publication year: 2008

Pages: 737-741

Journal: European Journal of Political Economy

Volume number: 24

Issue number: 4

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

Publisher: 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.

Authors/Editors

- Uni.-Prof. Dr. Peter Heinrich Tillmann

Citation Styles

Harvard Citation style: 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 Citation style: 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