| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 967226 | Journal of Monetary Economics | 2011 | 14 Pages |
Abstract
⺠We provide a new normative assessment of monetary conservatism. ⺠Optimal policies arise from a time-consistency problem and intertemporal distortion smoothing. ⺠Under endogenous fiscal policy, monetary conservatism has effects on debt accumulation. ⺠Welfare effects of monetary conservatism reflect its effect on steady state debt.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Stefan Niemann,