Economics, Econometrics and Finance
4 years ago

New study challenges traditional monetary policy assumptions, impacting inflation and unemployment.

RePEc: Research Papers in Economics
Monetary Policy with a Convex Phillips Curve and Asymmetric Loss
Demosthenes N. Tambakis

Paper Summary

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The article explores how traditional ideas about monetary policy may not hold true in reality. By using a different approach to measuring success and assuming a curved relationship between inflation and unemployment, the study finds that a balanced approach to policy works better than a more opportunistic one.