Mino, Kazuo; Tsutsui, Shunichi - In: Oxford Economic Papers 42 (1990) 3, pp. 603-19
This paper studies reputational constraint in a monetary policy game. The paper extends the standard Barro-Gordon model by considering a continuum of types of policy maker and exogenous disturbances and/or control errors in money supply. A sequential Nash equilibrium of this game shows that it...