Abstract
The purpose in this article is to investigate the implications of a non-linear supply curve for the standard discretionary inflation outcome obtained when the central bank has quadratic preferences. Some implications for the optimal output target and degree of conservativeness of the central banker are derived.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.