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Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985

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BuyFindarrow_forward

Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985
Textbook Problem

What might motivate a central banker to cause a political business cycle? What does the political business cycle imply for the debate over policy rules?

To determine

Monetary policy by discretion.

Explanation

Central bankers are sometimes tempted to use monetary policy for political business events by influencing the outcomes of elections. A central banker who might be sympathetic to the incumbent knows that the vote is based on the economic conditions at that time; therefore, th...

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