Petrella, Ivan, Rossi, Raffaele and Santoro, Emiliano (2014) Discretion vs. timeless perspective under model-consistent stabilization objectives. Economics Letters, 122 (1). pp. 84-88. doi:10.1016/j.econlet.2013.11.004 ISSN 0165-1765.

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Abstract

Recent literature has reported situations in which discretion dominates timeless perspective in the presence of elements that reduce the slope of the New Keynesian Phillips curve. Considering a model-consistent welfare metric inhibits this mechanism in the standard New Keynesian framework.

Item Type:	Journal Article
Subjects:	H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HG Finance
Divisions:	Faculty of Social Sciences > Warwick Business School
Library of Congress Subject Headings (LCSH):	Monetary policy -- Mathematical models, Banks and banking, Central, Keynesian economics, Cost and standard of living
Journal or Publication Title:	Economics Letters
Publisher:	Elsevier
ISSN:	0165-1765
Official Date:	January 2014
Dates:	Date Event January 2014 Published 12 October 2013 Available 4 November 2013 Accepted
Volume:	122
Number:	1
Page Range:	pp. 84-88
DOI:	10.1016/j.econlet.2013.11.004
Status:	Peer Reviewed
Publication Status:	Published
Access rights to Published version:	Restricted or Subscription Access
Date of first compliant deposit:	10 May 2017
Date of first compliant Open Access:	10 May 2017

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