Monetary Policy and Stable Indeterminacy with Inertia

We examine existence and stability under learning of sunspot equilibria in a New Keynesian model incorporating inertia. Indeterminacy remains prevalent, stable sunspots abound, and inertia in IS and AS relations do not significantly impact the policy region containing stable sunspots.

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Year of publication:	2004-03-29
Authors:	Evans, George W. ; McGough, Bruce
Institutions:	Department of Economics, University of Oregon
Subject:	Monetary Policy \| sunspots \| learning \| stability

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Extent:	application/pdf
Series:	University of Oregon Economics Department Working Papers.
Type of publication:	Book / Working Paper
Notes:	9 pages long
Classification:	E52 - Monetary Policy (Targets, Instruments, and Effects) ; E32 - Business Fluctuations; Cycles ; D83 - Search, Learning, Information and Knowledge ; D84 - Expectations; Speculations
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005464106