• Title of article

    Multiplicative uncertainty in a model without inflationary bias

  • Author/Authors

    Teruyoshi Kobayashi، نويسنده ,

  • Issue Information
    روزنامه با شماره پیاپی سال 2003
  • Pages
    5
  • From page
    317
  • To page
    321
  • Abstract
    This paper shows that an increase in the degree of multiplicative uncertainty regarding the effectiveness of monetary policy will reduce social loss when policymaker’s preferences are highly uncertain. This result is still valid even when there is no distortion in the market.
  • Keywords
    Multiplicative uncertainty , Brainard conservatism , Uncertain preferences , Monetary policy
  • Journal title
    Economics Letters
  • Serial Year
    2003
  • Journal title
    Economics Letters
  • Record number

    435243

    • Link To Document
    https://search.isc.ac/dl/search/defaultta.aspx?DTC=10&DC=435243