The optimal output target and degree of banker conservativeness in a model with a non-linear Phillips curve
The purpose in this article is to investigate the implications of a non-linear supply curve for the standard discretionary inflation outcome obtained when the central bank has quadratic preferences. Some implications for the optimal output target and degree of conservativeness of the central banker are derived.
Year of publication: |
2003
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Authors: | Morgan, P. ; Peel, D. |
Published in: |
Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 10.2003, 6, p. 323-330
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Publisher: |
Taylor & Francis Journals |
Saved in:
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