Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5059250 | Economics Letters | 2014 | 4 Pages |
Abstract
When a central bank is in charge of both price and financial stability, a new time-inconsistency problem may arise. Monetary policy may be abused to reduce the private sector's real debt burden after a financial shock materializes.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Kenichi Ueda, Fabián Valencia,