Uncertain central bankers' preferences: some implications of multiplicative versus additive uncertainty

In this note the implications of modelling uncertainty in the parameters of the central banks loss function are examined in a multiplicative rather than additive manner. The implications for expected inflation, linear inflation contracts and targets are derived.

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Year of publication:	2000
Authors:	Peel, D. A.
Published in:	Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 7.2000, 12, p. 771-773
Publisher:	Taylor & Francis Journals

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009202892