Monetary Policy Rules and Business Cycles

Business cycle properties under different monetary policy rules are examined in a variety of dynamic stochastic general equilibrium models (the real business cycle models, the nominal wage contract models with different length of contracts, and the monopolistic competition models with different size of price adjustment costs). The experiments show that nominal and real features of business cycles are substantially different under monetary policy rules.

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Year of publication:	1998
Authors:	Kim, Soyoung
Institutions:	Banco de España
Subject:	MONETARY POLICY \| BUSINESS CYCLES \| GENERAL EQUILIBRIUM

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Series:	Banco de España Working Papers.
Type of publication:	Book / Working Paper
Notes:	51 pages
Classification:	E32 - Business Fluctuations; Cycles ; E52 - Monetary Policy (Targets, Instruments, and Effects) ; C68 - Computable General Equilibrium Models
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005155288