Kiley, Michael T. (contributor) - 2004
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JEL Codes: E3, E5
Keywords: Monetary policy; equilibrium determinacy; Taylor rule; sunspot fluctuations
ii
1 …
policy, which follows a forward-looking (with respect to inflation) Taylor rule
Equation 8 { }
1
() |
ty
it E t y
π t
γ πγ … trend inflation rate (Π) and the coefficients in the
Taylor rule. Our experiments consider the possibility of indeterminacy …