| 000 -LEADER |
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| fixed length control field |
01001pab a2200157 454500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
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| fixed length control field |
180718b2000 xxu||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME |
|---|
| Personal name |
Walsh, Carl E. |
| 245 ## - TITLE STATEMENT |
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| Title |
Market discipline and monetary policy |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. |
|---|
| Date of publication, distribution, etc. |
2000 |
| 300 ## - PHYSICAL DESCRIPTION |
|---|
| Extent |
p.249-71 |
| 362 ## - DATES OF PUBLICATION AND/OR SEQUENTIAL DESIGNATION |
|---|
| Dates of publication and/or sequential designation |
Apr |
| 520 ## - SUMMARY, ETC. |
|---|
| Summary, etc. |
The effects of forward looking expectations of future inflation on equilibrium inflation and interest rates are examined within an imperfect information framework. Expectations of future inflation affect equilibrium in a manner similar to an increase in the central bank's weight on future social welfare, making it more likely an opportunistic central bank will actually deliver on its announced inflation targets, and output expansions can arise even if the central banker is revealed to be a low inflation type. The model also illustrates the channels through which inflation scares raise current real interest rates. - Reproduced |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name entry element |
Monetary policy |
| 773 ## - HOST ITEM ENTRY |
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| Main entry heading |
Oxford Economic Papers |
| 909 ## - |
|---|
| -- |
44755 |
