Why Money Talks and Wealth Whispers: Monetary Uncertainty and Mystique.(Statistical Data Included): An article from: Journal of Money, Credit & Banking

This digital document is an article from Journal of Money, Credit & Banking, published by Ohio State University Press on May 1, 2000. The length of the article is 6363 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the author: This paper analyzes the effect of monetary uncertainty on the inflationary bias and the variance of output and inflation. Monetary policy uncertainty is modeled as a shock to the central banker's preference for inflation stabilization relative to output stabilization that cannot be observed by the public. We find that the mean and variance of inflation increase with the variance of this preference shock. However, unlike other studies, we find that monetary uncertainty may very well have a positive effect on output stabilization and therefore also on society's welfare.

Citation Details
Title: Why Money Talks and Wealth Whispers: Monetary Uncertainty and Mystique.(Statistical Data Included)
Author: Sylvester C.w. Eijffinger
Publication:Journal of Money, Credit & Banking (Refereed)
Date: May 1, 2000
Publisher: Ohio State University Press
Volume: 32 Issue: 2 Page: 218

Article Type: Statistical Data Included

Distributed by Thomson Gale