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transfers. Monetary policy may become more expansionary or restrictive depending on asymmetries between member countries …
Persistent link: https://www.econbiz.de/10010492336
We study how the optimal degree of conservatism relates to decision-making procedures in a Monetary Policy Committee (MPC). In our framework, central bank conservatism is required to attenuate the volatility of monetary decisions generated by the presence of uncertainty about the committee...
Persistent link: https://www.econbiz.de/10010391838