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Carlo Strub
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Title
Prof. Dr.
Last Name
Strub
First name
Carlo
Phone
+41 71 224 2753
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Publication
Central Bank Design with Heterogenous Agents
2009-02-01
,
Berentsen, Aleksander
,
Strub, Carlo
We study alternative institutional arrangements for the determination of monetary policy in a general equilibrium model with heterogeneous agents, where monetary policy has redistributive effects. Inflation is determined by a policy board using either simple-majority voting, supermajority voting, or bargaining. We compare the equilibrium inflation rates to the first-best allocation.