| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1382 |
| DP1382 Managerial Incentives and Product Market Competition | |
| Klaus Schmidt | |
| 发表日期 | 1996-04-30 |
| 出版年 | 1996 |
| 语种 | 英语 |
| 摘要 | This paper shows that the government can achieve its precommitment outcome in monetary policy when output follows an autoregressive process, by offering the central banker a linear inflation contract, and where the parameters of the contract depend on lagged output. This note therefore offers an extension of the recent results of Walsh to the case of persistence in real economic variables such as output or unemployment |
| 主题 | International Macroeconomics |
| 关键词 | Inflation contracts monetary policy Output persistence |
| URL | https://cepr.org/publications/dp1382 |
| 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/530522 |
| 推荐引用方式 GB/T 7714 | Klaus Schmidt. DP1382 Managerial Incentives and Product Market Competition. 1996. |
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