Uncertain central bankers' preferences: some implications of multiplicative versus additive uncertainty

David Peel

Applied Economics Letters, 2000, vol. 7, issue 12, 771-773

Abstract: In this note the implications of modelling uncertainty in the parameters of the central banks loss function are examined in a multiplicative rather than additive manner. The implications for expected inflation, linear inflation contracts and targets are derived.

Date: 2000
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DOI: 10.1080/135048500444778

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