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Time-inconsistent monetary policies: recent research

Author

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  • Richard Dennis

Abstract

This Economic Letter looks at time-inconsistency, describing why the same mechanisms that can lead to higher average inflation also can hamper policymakers' efforts to keep inflation stable.

Suggested Citation

  • Richard Dennis, 2003. "Time-inconsistent monetary policies: recent research," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue apr11.
    • Handle: RePEc:fip:fedfel:y:2003:i:apr11:n:2003-10
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    File URL: http://www.frbsf.org/publications/economics/letter/2003/el2003-10.pdf
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    Citations

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    Cited by:

    1. Reyes, Luis, 2017. "The link between the current international monetary non-system, financialization and the Washington consensus," Research in International Business and Finance, Elsevier, vol. 42(C), pages 429-441.
    2. Loisel, Olivier, 2008. "Central bank reputation in a forward-looking model," Journal of Economic Dynamics and Control, Elsevier, vol. 32(11), pages 3718-3742, November.
    3. Luis Antonio Reyes Ortiz, 2017. "The Link between the Current International Monetary Non-System, Financialization and the Washington Consensus," Post-Print halshs-01895218, HAL.
    4. Selgin, George & Lastrapes, William D. & White, Lawrence H., 2012. "Has the Fed been a failure?," Journal of Macroeconomics, Elsevier, vol. 34(3), pages 569-596.
    5. Carl E. Walsh, 2003. "Minding the speed limit," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue may30.
    6. Steven Ambler, 2016. "Toward the Next Renewal of the Inflation-Control Agreement: Questions Facing the Bank of Canada," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 453, July.
    7. Runchana Pongsaparn & Panda Ketruangroch & Dhanaporn Hirunwong, 2012. "Monetary Policy conduct in Review: The Appropriate Choice of Instruments," Working Papers 2012-05, Monetary Policy Group, Bank of Thailand.

    More about this item

    Keywords

    Monetary policy; Inflation (Finance);

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