Discretion vs. timeless perspective under model-consistent stabilization objectives

DOI10.1016/J.ECONLET.2013.11.004MaRDI QIDQ2016013zbMATH OpenOpenAlexFDO

Authors Ivan Petrella, Raffaele Rossi, Emiliano Santoro

Publication date 18 June 2014

Published in Economics Letters (Search for Journal in Brave)

Full work available at URL http://wrap.warwick.ac.uk/88222/1/WRAP-discretion-timeless-perspective-model-consistent-stabilization-objectives-Petrella-2014.pdf

zbMATH Keywords

monetary policydiscretiontimeless perspectiveloss of social welfare

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64)

Recommendations

• The non-optimality of proposed monetary policy rules under timeless perspective commitment
• The optimal degree of monetary discretion in a New Keynesian model with private information
• A note on timeless perspective policy design
• Discretionary monetary policy in the Calvo model
• The Optimal Degree of Discretion in Monetary Policy

Cites work

• INPUTOUTPUT STRUCTURE AND NOMINAL RIGIDITY: THE PERSISTENCE PROBLEM REVISITED
• Input-output interactions and optimal monetary policy

Cited in

(2)

• A note on timeless perspective policy design
• The non-optimality of proposed monetary policy rules under timeless perspective commitment

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