Data di Pubblicazione:
2011
Abstract:
Absract
Interest rates set by central banks puzzlingly move with a certain inertia. We show that household's preferences can be important determinants of the optimal interest rate inertia due to their impact on the efficiency of the monetary policy transmission mechanism.
Interest rates set by central banks puzzlingly move with a certain inertia. We show that household's preferences can be important determinants of the optimal interest rate inertia due to their impact on the efficiency of the monetary policy transmission mechanism.
Tipologia CRIS:
1.1 Articolo in rivista
Keywords:
Optimal monetary policy; Interest rate smoothing; Household's preferences
Elenco autori:
Flamini, Alessandro; Fracasso, Andrea
Link alla scheda completa:
Pubblicato in: