Hallett, Andrew Hughes; Libich, Jan; Stehlik, Petr - Crawford School of Public Policy, Australian National … - 2007
This paper generalizes and qualifies an influential monetary policy result due to Rogoff (1985) by taking fiscal policy, and fiscal-monetary interactions, into account. It shows that an appointment of a conservative central banker may, under a range of circum- stances, (i) increase the average...