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| Author: | Goodhart, C. |
| Title: | Game theory for central bankers: a report to the governor of the bank of England |
| Journal: | Journal of Economic Literature
1994 : MAR, VOL. 32:2, p. 101-114 |
| Index terms: | ENGLAND GAME THEORY BANKS |
| Language: | eng |
| Abstract: | The article presents a review of "Central Bank Strategy, Credibility, and Independence: Theory and Evidence" by Alex Cukierman (1992). The author outlined a number of criticisms. The main theme of these is that the book has a narrow focus, concentrating on a particular, simplified model, as outlined essentially in Chapter 9, and followed by a series of closely connected exercises. But that is not the overall impression. Alex Cukierman not only exhibits great mathematical and technical skills, but he shows how these can be used to establish clear results for quite a wide variety of interesting cases. |
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