Cukierman, Alex (contributor); Gerlach, Stefan (contributor) - 2002 - [Elektronische Ressource]
nineties in the US but not in Germany, Japan and the UK.
For sceptics like McCallum (1995), who argue that the KPBG inflation …1
The Inflation Bias Revisited: Theory and Some
International Evidence
Alex Cukierman and Stefan Gerlach
∗
November, 18 …, 2002
Abstract
The Kydland-Prescott, Barro-Gordon inflation bias result relies on the presump-
tion that policymakers aim at …