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| Author: | Sibert, A. |
| Title: | Monetary policy with uncertain central bank preferences |
| Journal: | European Economic Review
2002 : JUN, VOL. 46:6, p. 1093-1109 |
| Index terms: | CENTRAL BANKS MONETARY POLICY SIGNALING |
| Language: | eng |
| Abstract: | This paper considers monetary policy when policy makers' preferences are private information. The author shows that in the first period of a two-period term, all policy makers but the least inflation averse inflate less - but respond more to shocks - than if there were no private information. Moderately inflation-averse policy makers may reduce their inflation most. |
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