Monetární politika: diskrece versus pravidla
| Title in English | Monetary policy: discretion versus rules |
|---|---|
| Authors | |
| Year of publication | 2003 |
| Type | Article in Proceedings |
| Conference | MendelNet 2002/3, 1. díl - sekce ekonomie |
| MU Faculty or unit | |
| Citation | |
| Field | Economy |
| Keywords | Keywords: monetary policy; discretion; commitment; dynamic inconsistency |
| Description | It is a question, if monetary policy should have the possibility of "discretion" or if it should follow a binding commitment. It may seem that the first case is better, because it is possible to choose some type of commitment "under discretion". But as we can see from optimzation of central bank objective function, this result is not correct. |
| Related projects: |