KPBG

AcronymDefinition
KPBGKings Park and Botanic Garden (Perth, Australia)
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References in periodicals archive ?
The first is that contemporary CBs do not attempt to maintain output above its normal or natural level, and thus there is no credibility problem because of the classical KPBG reasons.
Although, as in KPBG, the bias arises because of the CB concern (at least in some states of nature) about the output gap, the new bias identified here does not rely on dynamic inconsistency.
Although, as in KPBG, the bias arises because of the CB concern (at least in some states of nature) about the output gap, the new bias does not rely on dynamic inconsistency The origin of the bias resides, instead, in the precautionary behavior of the CB, with respect to recessions in a world of uncertainty in conjunction with the public's awareness of this asymmetry in CB objectives.