@article{3e75412074c611dbbee902004c4f4f50,
title = "Optimal Monetary Policy Cooperation through State-Independent Contracts with Targets",
abstract = "Simple state-independent monetary institutions are shown to secure optimal cooperative policies in a stochastic, linear-quadratic two-country world with international policy spill-overs and national credibility problems. Institutions characterize delegation to independent central bankers facing quadratic performance related contracts punishing or rewarding deviations from primary and intermediate policy targets",
author = "Henrik Jensen",
note = "JEL Classification: E42, E58, F42",
year = "2000",
doi = "10.1016/S0014-2921(98)00086-5",
language = "English",
volume = "44",
pages = "517--539",
journal = "European Economic Review",
issn = "0014-2921",
publisher = "Elsevier",
number = "3",
}