This paper extends and modifies the Keynesian critique of inflation targeting with reference to stabilisation policy in emerging market economies. The IMF `basic monetary programming framework` for developing countries uses government borrowing and the exchange rate as policy instruments in...

In this paper we develop a simple dynamic New Keynesian type model using the multiplier – accelerator principle in our effort to determine the time paths of income, actual and expected inflation towards their long – run equilibrium values. Assuming that expectations are adaptive, we...

This survey analyses two types of models: 1. Models based on assumptions of monetary and financial market equilibrium disturbance, in line with mainstream thinking according to which if there is a self-regulating market the units would have rational expectations, and the crisis would be a...

This survey analyzes two types of models: 1. Models based on assumptions of monetary and financial market equilibrium disturbance in line with mainstream thinking to believe that is self-regulating market, the units would have rational expectations, an the crisis would be a temporary phenomenon...

This survey analyses two types of models: 1. models based on assumptions of monetary and financial market equilibrium disturbance in line with mainstream thinking to believe that is self-regulating market, the units would have rational expectations, and the crisis would be a temporary phenomenon...

This paper analyses two types of models: 1. Those based on assumptions of monetary and financial market equilibrium disturbance in line with mainstream thinking that there is self-regulating market, the units would have rational expectations, and the crisis would be a temporary phenomenon caused...

As recent experience suggests, the most significant economic fluctuations are those that combine real and financial factors. This paper works out a simple model that couples a version of Goodwin׳s (1967) growth cycle model of real fluctuations with insights drawn from a model of financial...

This paper demonstrates the diverse dynamical possibilities arising out of a simple macroeconomic model of debt-financed investment-led growth in the presence of interest rate rules. We show possibilities of convergence to steady state, growth cycles around it as well as various complex...

This paper demonstrates the diverse dynamical possibilities of a simple macroeconomic model of debt-financed investment-led growth in the presence of interest rate rules. We show possibilities of convergence to steady state, growth cycles around it as well as various complex dynamics from codim...

The standard new Keynesian monetary policy problem is presentable as a set of linearized equations, for values of endogenous variables relatively close to their steady-state. As a result, only three possibilities are admissible in terms of long-term dynamics: the equilibrium may be a stable...