Discretionary monetary policy with costly inflation

Richard Dennis

doi:10.1016/s0165-1765(99)00123-8

Discretionary monetary policy with costly inflation

Richard Dennis^*

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

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Abstract

This paper considers how an output cost of inflation affects the discretionary inflation bias. We show that conditions exist under which costly inflation actually increases this inflation bias.

Original language	English
Pages (from-to)	91-96
Number of pages	6
Journal	Economics Letters
Volume	65
Issue number	1
DOIs	https://doi.org/10.1016/s0165-1765(99)00123-8
Publication status	Published - Oct 1999

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title = "Discretionary monetary policy with costly inflation",

abstract = "This paper considers how an output cost of inflation affects the discretionary inflation bias. We show that conditions exist under which costly inflation actually increases this inflation bias.",

keywords = "E31, E52, Inflation bias, Monetary policy, Time-inconsistency",

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Discretionary monetary policy with costly inflation

Abstract

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