| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP925 |
| DP925 Macroeconomic Stabilization and Intervention Policy Under an Exchange Rate Band | |
| Frederick van der Ploeg; Roel Beetsma | |
| 发表日期 | 1994-03-31 |
| 出版年 | 1994 |
| 语种 | 英语 |
| 摘要 | This paper examines the conduct of monetary policy in an economy with overlapping multi-period nominal wage contracts. We examine the welfare implications of stabilization policy in the face of random supply shocks. In the absence of precommitment, the discretionary policy can be improved by choosing bankers who are more conservative than the `median voter' in that they attach a higher priority to achieving low inflation than higher output. The choice of an optimal banker depends on the degree of nominal and real wage rigidities and the presence of the latter can improve the feasibility of a monetary union. |
| 主题 | International Macroeconomics |
| 关键词 | Conservative bankers European central bank Labour market structure |
| URL | https://cepr.org/publications/dp925 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530066 |
| 推荐引用方式 GB/T 7714 | Frederick van der Ploeg,Roel Beetsma. DP925 Macroeconomic Stabilization and Intervention Policy Under an Exchange Rate Band. 1994. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
