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The anti inflationary influence of corporatist structures and central bank independence: The importance of the hump shaped hypothesis

โœ Scribed by Fahim Al-Marhubi; Thomas D. Willett

Publisher
Springer US
Year
1995
Tongue
English
Weight
574 KB
Volume
84
Category
Article
ISSN
0048-5829

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This paper applies the monetary policy reaction model developed by McCallum to the term structure of interest rates. First, it contains the solution of a rational expectations model of the central bank policy reaction, with respect to the current long short-spread for the N period long rate case. Se