That is, countries with hierarchical mandates 10 are more likely to end up with lower inflation variability at the expense of higher output variability. A dual mandate, therefore, provides flexibility for the central bank to select the point along this tradeoff that matches the public's preference.
Focusing policymakers on what they can achieve An argument often made for a hierarchical mandate is that identifying price stability as the sole or primary objective focuses monetary policy on what it can achieve and, thereby, reduces political pressure to pursue goals that are not achievable.