Published in:University of Zurich, Institute for Empirical Research in Economics Working Paper Series ; No. 365
Extent:
1 Online-Ressource (30 p)
Language:
English
DOI:
10.2139/ssrn.1118705
Identifier:
Origination:
Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments April 2008 erstellt
Description:
We study alternative institutional arrangements for the determination of monetary policy in a general equilibrium model with heterogeneous agents, where monetary policy has redistributive effects. Inflation is determined by a policy board using either simple-majority voting, supermajority voting, or bargaining. We compare the equilibrium inflation rates to the first-best allocation