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Persistent link: https://www.econbiz.de/10009746729
The aim of this paper is to bring together two recent developments in the â€contracting†approach to the time-inconsistency problem of monetary policy: linear contracts under common agency and central bank preference uncertainty under single agency. We show that under common agency and...
Persistent link: https://www.econbiz.de/10009649898
The entrance of Italy in the Euro area in 2001 has given rise to a wide debate about the perception of inflation on households’ well-being. However, most of the debate has involved the measurement of the “correct†consumer price index at national level. Much less analysis has...
Persistent link: https://www.econbiz.de/10009649990