Inflation Inertia, Monetary Policy and Market Competition: Tarantelli Revisited

The chapter claims that monetary authorities’ conservatism is needed to improve the macroeconomic performance, the more so the higher the degree of product market competition. Contrary to a widespread belief, central bank conservatism and market competition are complements, rather than substitutes. This could justify the presence of a conservative European Central Bank in the process of a strengthened European integration.

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Authors:	Coricelli, Fabrizio
Other Persons:	Acocella, Nicola (contributor) ; Leoni, Riccardo (contributor)
Published in:	Social Pacts, Employment and Growth. A Reappraisal of Ezio Tarantelli’s Thought.
Subject:	Monetary conservatism \| market competition \| macroeconomic performance

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Extent:	text/html
Type of publication:	Article
Classification:	E02 - Institutions and the Macroeconomy ; E58 - Central Banks and Their Policies
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010693183