全球智库信息集成服务系统(G2TT): DP2745 Economic Performance and Stabilization Policy in a Monetary Union with Imperfect Labour and Goods Markets

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP2745
	DP2745 Economic Performance and Stabilization Policy in a Monetary Union with Imperfect Labour and Goods Markets
	Alex Cukierman; Fabrizio Coricelli; Alberto Dalmazzo
发表日期	2001-03-27
出版年	2001
语种	英语
摘要	According to most academics and policymakers, transparency in monetary policymaking is desirable. I examine this proposition in a small theoretical model emphasizing forward-looking private sector behaviour. Transparency makes it easier for price setters to infer the central bank's future policy intentions, thereby making current inflation more responsive to policy actions. This induces the central bank to pay more attention to inflation rather than output gap stabilization. Then, transparency may be disadvantageous. It may actually be a policy-distorting straitjacket if the central bank enjoys low-inflation credibility, and there is need for active monetary stabilization policy.
主题	International Macroeconomics
关键词	transparency monetary policy Central bank institutions
URL	https://cepr.org/publications/dp2745
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/531801
推荐引用方式 GB/T 7714	Alex Cukierman,Fabrizio Coricelli,Alberto Dalmazzo. DP2745 Economic Performance and Stabilization Policy in a Monetary Union with Imperfect Labour and Goods Markets. 2001.