Positive Political Economy
Subtitle: Theory and Evidence
Contributors: Sylvester C. W. Eijffinger (Editor); Harry P. Huizinga (Editor)
Publisher: Cambridge University Press
Published: June 13, 1998
Language: eng
Format: Hardcover
Number of pages: 312
ISBN-13: 9780521572156
Subjects: Political economy; General; Congresses; Business & Economics; Politics / Current Events; Politics/International Relations; Politics - Current Events; Monetary Policy; Economics - Macroeconomics; Business & Economics / Macroeconomics; Monetary policy--Congresses; Money & Monetary Policy; Banks and banking, Central; Economic Policy
First sentence: The classic time-consistency problem results in a counterproductive inflation bias to discretionary monetary policy (Kydland and Prescott, 1977; Barro and Gordon, 1983).