This article was previously circulated as ‘Staggered Loan Contract in a Utility Maximizing Framework’. I have benefited from seminar participants at Columbia University. I thank Alex Mikov, Bruce Preston, Guillermo Calvo, Jón Steinsson, Marc Giannoni and Steve Zeldes for good suggestions and critiques, and especially Mike Woodford, Editor Wouter den Haan and anonymous referees for helpful comments and suggestions. Any errors are solely the responsibility of the author.
Smoothed Interest Rate Setting by Central Banks and Staggered Loan Contracts
Version of Record online: 17 MAR 2014
© 2013 Royal Economic Society
The Economic Journal
Volume 125, Issue 582, pages 162–183, February 2015
How to Cite
Teranishi, Y. (2015), Smoothed Interest Rate Setting by Central Banks and Staggered Loan Contracts. The Economic Journal, 125: 162–183. doi: 10.1111/ecoj.12092
- Issue online: 26 JAN 2015
- Version of Record online: 17 MAR 2014
- Accepted manuscript online: 16 SEP 2013 05:31AM EST
- Manuscript Accepted: 2 JUL 2013
- Manuscript Received: 15 FEB 2012
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