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-includin...
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| Natura: | Periodico |
| Lingua: | English |
| Pubblicazione: |
Washington, D.C. :
International Monetary Fund,
1998.
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| Serie: | IMF Working Papers; Working Paper ;
No. 1998/021 |
| Accesso online: | Full text available on IMF |