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Determinacy and Indeterminacy in Monetary Policy Rules with Money
Keating, John; Smith, Andrew Lee - Department of Economics, University of Kansas - 2013
parametric, we show this determinacy result extends to the non-parametric Divisia monetary aggregate growth rule. Interestingly … stemming from this aggregate’s inaccuracy in tracking the true monetary aggregate. Determinacy regions of interest rate rules …
Persistent link: https://www.econbiz.de/10010704438
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An Analytical and Numerical Search for Bifurcations in Open Economy New Keynesian Models
Barnett, William; Eryilmaz, Unal - Department of Economics, University of Kansas - 2012
We explore bifurcation phenomena in the open-economy New Keynesian model developed by Gali and Monacelli (2005). We find that the open economy framework brings about more complex dynamics, along with a wider variety of qualitative behaviors and policy responses. Introducing parameters related to...
Persistent link: https://www.econbiz.de/10010561578