Berentsen, Aleksander and Strub, Carlo. (2009) Central bank design with heterogeneous agents. European economic review, Vol. 53, H. 2. pp. 139-152.
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Official URL: http://edoc.unibas.ch/dok/A5250209
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Abstract
We study alternative institutional arrangements for the determination of monetary policy in a general equilibrium model with heterogeneous agents, where monetary policy has redistributive effects. Inflation is determined by a policy board using either simple-majority voting, supermajority voting, or bargaining. We compare the equilibrium inflation rates to the first-best allocation.
| Faculties and Departments: | 06 Faculty of Business and Economics > Departement Wirtschaftswissenschaften > Professuren Wirtschaftswissenschaften > Wirtschaftstheorie (Berentsen) |
|---|---|
| UniBasel Contributors: | Berentsen, Aleksander |
| Item Type: | Article, refereed |
| Article Subtype: | Research Article |
| Publisher: | North Holland Publ. |
| ISSN: | 0014-2921 |
| Note: | Publication type according to Uni Basel Research Database: Journal article |
| Last Modified: | 22 Mar 2012 14:28 |
| Deposited On: | 22 Mar 2012 14:03 |
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