-state real interest rate is independent of inflation. If this is the case, there exists in our model a unique steady state with … terms of the 'activeness' of the interest rate feedback on inflation. This is ruled out under monetary targeting. …-Effektes bezüglich der Inflation in der Zinsregel unterscheiden. Eine derartige Konstellation globaler Indeterminiertheit tritt bei der …

-state real interest rate is independent of inflation. If this is the case, there exists in our model a unique steady state with … terms of the 'activeness' of the interest rate feedback on inflation. This is ruled out under monetary targeting. …

exist two or no balanced paths while stationary equilibria with zero inflation exist only on a small (non-open) set of … and stability are influenced in a decisive way by fiscal and monetary parameters determining steady state inflation rates …

-state real interest rate is independent of inflation. If this is the case, there exists in our model a unique steady state with … terms of the 'activeness' of the interest rate feedback on inflation. This is ruled out under monetary targeting …