| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5060845 | Economics Letters | 2011 | 4 Pages |
Abstract
⺠The paper develops an asynchronous framework with endogenous frequency of moves. ⺠Such dynamic commitment can alleviate potential coordination problems. ⺠We examine how strongly (explicitly) monetary policy should be committed in the long-term. ⺠The analysis identifies several variables determining the optimal degree of commitment. ⺠The analysis explains the observed institutional differences across countries.
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Social Sciences and Humanities
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Economics and Econometrics
Authors
Jan Libich, Petr StehlÃk,