nominal interest rates, even when agents believe that the central bank will eventually attain its long-run, positive inflation … target. This illustrates that a credible long-run inflation target does not render the Taylor principle sufficient for …

eventually attain its long-run, positive inflation target. This illustrates that a credible long-run inflation target does not … level targeting does restore determinacy providing agents believe that inflation will eventually be positive. …

growth, inflation, and the sum of inflation and output. There are three varieties of one-period nominal stickiness … shock if it results in smaller deviations of the variable from its target value. Some familiar results regarding the ranking … rankings may depend both on the type of shock and on which variable is the target variable. However, it may be somewhat …

Central Bank optimization problem in a new-keynesian economy. The advantage of using this method is that it provides a theory …

-economic shock measurement …