Adolfson, Malin - Economics Institute for Research (SIR), … - 2001
enhanced by appointing a central banker with a greater preference for interest rate smoothing than that of the society, as a … gains from monetary policy inertia. The optimal degree of interest rate smoothing is increasing in the degree of pass-through. … can, moreover, be enhanced by appointing a central banker with a greater preference
for interest rate smoothing than that …