Carlstrom, Charles T. (contributor); … - 2003 - [Elektronische Ressource]
Taylor rule would have only minor effects on the local determinacy conditions.
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. (10 …: Suppose that monetary policy is given by a forward-looking Taylor rule.
In the Calvo sticky price model with investment a … that monetary policy is given by a current-looking Taylor rule.
A necessary condition for determinacy is that τ > 1 …