Testing for Asymmetric Central Bank Preferences
نویسندگان
چکیده
منابع مشابه
Do Asymmetric Central Bank Preferences Help Explain Observed Inflation Outcomes?
When the central banker’s loss function is asymmetric, changes in the volatility of inflation and/or unemployment affect equilibrium inflation. This suggests that changing macroeconomic volatilities may be an important driving force behind trends in observed inflation. Previous evidence, which has offered support for this idea, suffers from a spurious regression problem. Once this problem is co...
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entral banks provide liquidity in various contexts to promote the stability and efficient functioning of the financial system. While the exact institutional aspects of liquidity provision vary among central banks, some basic features seem to be generic. First, the provision of central bank liquidity in normal periods is restricted to a small subset of possible agents who are encouraged to compe...
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ژورنال
عنوان ژورنال: International Journal of Economics and Finance
سال: 2018
ISSN: 1916-9728,1916-971X
DOI: 10.5539/ijef.v10n4p25