The perverse response of interest rates

The optimal monetary policy response to an increase in aggregate demand may be to reduce the interest rate. This apparently perverse response of interest rates can occur when the Phillips curve is non-linear.

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Year of publication:	2008
Authors:	Boinet, Virginie ; Martin, Christopher
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 99.2008, 2, p. 418-420
Publisher:	Elsevier

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005288082