Canzoneri, Matthew B; Cumby, Robert; Diba, Behzad; … - C.E.P.R. Discussion Papers - 2008
Woodford (2003) describes a popular class of neo-Wicksellian models in which monetary policy is characterized by an interest-rate rule, and the money market and financial institutions are typically not even modelled. Critics contend that these models are incomplete and unsuitable for...