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

David Peel

Applied Economics Letters, 2001, vol. 8, issue 1, 17-20

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

Date: 2001
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Journal Article: Uncertain central bankers' preferences: some implications of multiplicative versus additive uncertainty (2000)
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DOI: 10.1080/135048501750041222

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