Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/158953
Authors: 
Scorcu, Antonello Eugenio
Year of Publication: 
1991
Series/Report no.: 
Quaderni - Working Paper DSE 110
Abstract (Translated): 
This work extends the analysis of time inconsistency in monetary policy to the case of serial correlation in the level of production. In the one-shot discretionary equilibrium Inflation is higher than in the Barro-Gordon case. Over an infinite horizon, output persistence makes the conditions for a reputational equilibrium more likely to be met.
Persistent Identifier of the first edition: 
Creative Commons License: 
https://creativecommons.org/licenses/by-nc/3.0/
Document Type: 
Working Paper

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