Arbeitspapier
Opportunistic Monetary Policy: an Alternative Rationalization
This paper offers an alternative rationalization for opportunistic behaviour i.e., a gradual disinflation strategy where policymakers react asymmetrically to supply shocks, opting to disinflate only in recessionary period. Specifically, we show that adaptive expectations combined with asymmetry in the Phillips curve of a specific sort together provide an optimizing justification for opportunism. However, the empirical basis for these conditions to be satisfied in the current low-inflation context of most OECD countries remains however to be established.
- Sprache
-
Englisch
- Erschienen in
-
Series: Cardiff Economics Working Papers ; No. E2005/9
- Klassifikation
-
Wirtschaft
Monetary Policy
Central Banks and Their Policies
- Thema
-
Deliberate disinflation
Opportunistic disinflation
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Minford, Patrick
Srinivasan, Naveen
- Ereignis
-
Veröffentlichung
- (wer)
-
Cardiff University, Cardiff Business School
- (wo)
-
Cardiff
- (wann)
-
2005
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Minford, Patrick
- Srinivasan, Naveen
- Cardiff University, Cardiff Business School
Entstanden
- 2005
Ähnliche Objekte (12)
Where next for monetary policy? Lessons from the financial crisis and the pandemic
Commentary on economic projections and rules of thumb for monetary policy (by Athanasios Orphanides and Volker Wieland)
US post-war monetary policy: What caused the Great Moderation?
Optimising indexation arrangements under Calvo contracts and their implications for monetary policy
Testing the monetary policy rule in the US: A reconsideration of the Fed's behaviour
State-dependent pricing and its implications for monetary policy
An endogenous Taylor condition in an endogenous growth monetary policy model
Monetarism rides again? US monetary policy in a world of Quantitative Easing
Post-Brexit realism and international law: Renegotiating a bad Withdrawal Agreement
Understanding UK trade agreements with the EU and other countries
The banking crisis: A rational interpretation
A note rebutting the recent Cambridge Econometrics assessment of Brexit on the UK and London economies: Commissioned by London Mayor Khan
Where next for monetary policy? Lessons from the financial crisis and the pandemic
Commentary on economic projections and rules of thumb for monetary policy (by Athanasios Orphanides and Volker Wieland)
US post-war monetary policy: What caused the Great Moderation?
Optimising indexation arrangements under Calvo contracts and their implications for monetary policy
Testing the monetary policy rule in the US: A reconsideration of the Fed's behaviour
State-dependent pricing and its implications for monetary policy
An endogenous Taylor condition in an endogenous growth monetary policy model
Monetarism rides again? US monetary policy in a world of Quantitative Easing
Post-Brexit realism and international law: Renegotiating a bad Withdrawal Agreement
Understanding UK trade agreements with the EU and other countries
The banking crisis: A rational interpretation
A note rebutting the recent Cambridge Econometrics assessment of Brexit on the UK and London economies: Commissioned by London Mayor Khan
Where next for monetary policy? Lessons from the financial crisis and the pandemic
Commentary on economic projections and rules of thumb for monetary policy (by Athanasios Orphanides and Volker Wieland)
US post-war monetary policy: What caused the Great Moderation?
Optimising indexation arrangements under Calvo contracts and their implications for monetary policy
Testing the monetary policy rule in the US: A reconsideration of the Fed's behaviour
State-dependent pricing and its implications for monetary policy
An endogenous Taylor condition in an endogenous growth monetary policy model
Monetarism rides again? US monetary policy in a world of Quantitative Easing
Post-Brexit realism and international law: Renegotiating a bad Withdrawal Agreement
Understanding UK trade agreements with the EU and other countries
The banking crisis: A rational interpretation