Interest rate stepping: Theory and evidence
A stylised fact of monetary policymaking is that central banks do not immediately respond to new information but seem instead to prefer to wait until sufficient ‘evidence’ to warrant a change has accumulated. However, theoretical models of inflation targeting imply that an optimising central bank sh...
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
AOSIS
2007-04-01
|
| Series: | Journal of Economic and Financial Sciences |
| Subjects: | |
| Online Access: | https://jefjournal.org.za/index.php/jef/article/view/380 |