" variables such as inflation. We demonstrate that it is of no use to compute non-observable Lagrange multipliers for all periods …

(2003, 2005). We derive sufficient conditions for the LQ approximation to have this property in the vicinity of a zero-inflation …

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 …

(2003, 2005). We derive sufficient conditions for the LQ approximation to have this property in the vicinity of a zero-inflation …