Central Bank Design with Heterogenous Agents
Journal
European Economic Review
Type
newspaper article
Date Issued
2009-02-01
Author(s)
Abstract
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.
Language
HSG Classification
contribution to scientific community
Refereed
Yes
Publisher
Elsevier
Volume
53
Number
2
Start page
139
End page
152
Pages
14
Subject(s)
Division(s)
Eprints ID
63301