Monetary Policy with a Convex Phillips Curve and Asymmetric Loss

Monetary Policy with a Convex Phillips Curve and Asymmetric Loss
Recent theoretical and empirical work has cast doubt on the hypotheses of a linear Phillips curve and a symmetric quadratic loss function underlying traditional thinking on monetary policy. This paper analyzes the Barro-Gordon optimal monetary policy problem under alternative loss functions-including an asymmetric loss function corresponding to... READ MORE...

Publication date: February 1998
ISBN 9781451921717
$15.00

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