Article ID Journal Published Year Pages File Type
5059250 Economics Letters 2014 4 Pages PDF
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
Preview
Central bank independence and macro-prudential regulation
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