The Optimal Degree of Commitment to an Intermediate Monetary Target
- 1 November 1985
- journal article
- Published by Oxford University Press (OUP) in The Quarterly Journal of Economics
- Vol. 100 (4) , 1169-1189
- https://doi.org/10.2307/1885679
Abstract
Society can sometimes make itself better off by appointing a central banker who does not share the social objective function, but instead places “tooKeywords
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