Rogoff revisited: The conservative central banker proposition under active fiscal policies

Andrew Hughes Hallett (), Jan Libich and Petr Stehlík

Economics Letters, 2009, vol. 104, issue 3, pages 140-143

Abstract: The paper re-examines Rogoff's [Rogoff, K., 1985. The Optimal Degree of Commitment to an Intermediate Monetary Target. Quarterly Journal of Economics 100, 1169-1189.] influential monetary policy result. It shows that responses of a conservative central banker and the resulting macroeconomic outcomes may be substantially different if interactions with (ambitious) fiscal policy are taken into account.

Keywords: Conservative; central; banker; Monetary; and; fiscal; policy; interaction; Inflation; Deficit; Debt (search for similar items in EconPapers)
Date: 2009

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Working Paper: ROGOFF REVISITED: THE CONSERVATIVE CENTRAL BANKER PROPOSITION UNDER ACTIVE FISCAL POLICIES (2007)
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Persistent link: http://EconPapers.repec.org/RePEc:eee:ecolet:v:104:y:2009:i:3:p:140-143

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