Discretionary Monetary Policy With Costly Inflation

Dennis, Richard

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Discretionary Monetary Policy With Costly Inflation

Date

1999

Authors

Dennis, Richard

Publisher

Elsevier

Abstract

This paper considers how an output cost of inflation affects the discretionary inflation bias. We show that conditions exist under which costly inflation actually increases this inflation bias.

Keywords

Keywords: E31; E52; Inflation bias; Monetary policy; Time-inconsistency

URI

http://hdl.handle.net/1885/94848

Collections

ANU Research Publications

Source

Economics Letters

Type

Journal article

Restricted until

2037-12-31

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Discretionary Monetary Policy With Costly Inflation

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