Journal Article

Time-inconsistent monetary policies: recent research


Abstract: This Economic Letter looks at time-inconsistency, describing why the same mechanisms that can lead to higher average inflation also can hamper policymakers' efforts to keep inflation stable.

Keywords: Monetary policy; Inflation (Finance);

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Bibliographic Information

Provider: Federal Reserve Bank of San Francisco

Part of Series: FRBSF Economic Letter

Publication Date: 2003

Order Number: 10