A monetary policy paradox
AbstractAn exploration of the paradoxical link between interest rates and inflation in the short versus the long run, showing that it may be more difficult for a central bank to achieve credibility--and hence a less costly transition to a stable price environment--without first making the monetary authorities accountable for publicly stated multiyear objectives for the price level.
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Bibliographic InfoArticle provided by Federal Reserve Bank of Cleveland in its journal Economic Commentary.
Volume (Year): (1995)
Issue (Month): Aug ()
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