Creator

• Roberds, William

Series

• Staff report (Federal Reserve Bank of Minneapolis. Research Department)

Issue number

• 104

Date created

• 1986-03

Abstract

• This paper considers a policy environment in which policy is not set by a single policymaker, but by a sequence of policymaking administrations. Administration turnover is determined by a simple random process. The consequences of administration turnover are traced through for two versions of a linear rational expectations model, and numerical simulations of various policy environments are presented.

Related information

• Published in: International Economic Review (Vol. 28, No. 3, October 1987, pp. 731-755) https://doi.org/10.2307/2526576.

Corporate Author

• Federal Reserve Bank of Minneapolis. Research Department

Publisher

• Federal Reserve Bank of Minneapolis

Resource type

• Research Paper

DOI

•  https://doi.org/10.21034/sr.104

License

• Creative Commons BY-NC Attribution-NonCommercial 4.0 International

In Collection:

• Staff Reports

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