Comment on ‘Market discipline and monetary policy’ by Carl Walsh
Mauricio S. Bugarin and
Fabia Carvalho ()
Oxford Economic Papers, 2005, vol. 57, issue 4, 732-739
This paper shows that the results Walsh (2000, Market discipline and monetary policy, Oxford Economic Papers, 52, 249--71) obtains are highly sensitive to the assumption that different wage contracts are based on different information sets even though they are negotiated simultaneously. In particular, the power of future expectations to discipline an opportunistic central banker is much weaker when homogeneous information sets are used. Copyright 2005, Oxford University Press.
References: Add references at CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
Access to full text is restricted to subscribers.
Working Paper: Comment on Market Discipline and Monetary Policy by Carl Walsh (2005)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:oup:oxecpp:v:57:y:2005:i:4:p:732-739
Ordering information: This journal article can be ordered from
Access Statistics for this article
Oxford Economic Papers is currently edited by A. Banerjee and James Forder
More articles in Oxford Economic Papers from Oxford University Press Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK.
Bibliographic data for series maintained by Oxford University Press ().