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Endogenous Fluctuations in an Endogenous Growth Model with Ination Targeting

Gupta, Rangan; Stander, Lardo - Institut de Préparation à l'Administration et à la … - 2014

This paper develops a monetary endogenous growth overlapping generations model characterized by production lags - specically lagged capital inputs - and an in ation targeting monetary authority, and analyses the growth dynamics that emerge from this framework. The growth process is endogenized...

Persistent link: https://www.econbiz.de/10011161641

Bounded rational expectations and the stability of interest rate policy

Gomes, Orlando; Mendes, Diana A.; Mendes, Vivaldo M. - In: Physica A: Statistical Mechanics and its Applications 387 (2008) 15, pp. 3882-3890

inflation and output dynamics following a monetary shock, and the stability of its dynamics suffers from indeterminacy. The … indeterminacy as is usually found in the literature. …

Persistent link: https://www.econbiz.de/10011062587

Forward-looking monetary policy and anticipated shocks to inflation

Kapinos, Pavel - In: Journal of Macroeconomics 33 (2011) 4, pp. 620-633

explanations of the price puzzle—the cost channel of transmission of monetary policy and indeterminacy due to violation of the …

Persistent link: https://www.econbiz.de/10011065354

Autarkic Indeterminacy and Trade Determinacy

Sim, Nicholas; Ho, Kong-Weng - Department of Economics, National University of Singapore - 2005

Most existing evidences for indeterminacy are obtained from analyzing models that do not consider trade. This paper … that even though indeterminacy arises under autarky, it can be eliminated when trade takes place with another country … exhibiting saddle-path stability. Consequently, support for indeterminacy from calibrating an autarkic framework should be …

Persistent link: https://www.econbiz.de/10005518264

Implications of the Modigliani-Miller Theorem for the Study of Exchange Rate Regimes

Cunha, Alexandre B. - IBMEC Business School - Rio de Janeiro - 2006

We extend the Modigliani-Miller Theorem to the composition of the public debt and show that in a deterministic model the structure of a government's assets and liabilities is undetermined. Hence, a floating exchange rate regime can implement any attainable competitive equilibrium. Concerning...

Persistent link: https://www.econbiz.de/10005551021

(In)determinacy and Time-to-Build

BAMBI, Mauro; LICANDRO, Omar - Department of Economics, European University Institute - 2004

a small time-to-build delay rules out local indeterminacy. …

Persistent link: https://www.econbiz.de/10005557700

Animal spirits in cash-in-advance economies

Bosi, Stefano; Dufourt, Frédéric; Magris, Francesco - In: Recherches économiques de Louvain 73 (2007) 2, pp. 131-151

The possibility of indeterminacy and sunspot fluctuations in dynamic rational expectations models has been often …, indeterminacy typically prevails for an arbitrarily small amplitude of the liquidity constraint. We also analyze the cyclical …

Persistent link: https://www.econbiz.de/10005560192

The Price Puzzle: Fact or Artefact?

Castelnuovo, Efrem; Surico, Paolo - EconWPA - 2005

the high persistence of expected inflation under indeterminacy is found to account for the price puzzle observed in actual …

Persistent link: https://www.econbiz.de/10005561209

Indeterminacy, bifurcations and chaos in an overlapping generations model with negative environmental externalities

Antoci, Angelo; Sodini, Mauro - Volkswirtschaftliche Fakultät, … - 2009

We analyze an overlapping generations model where agent’s welfare depends on three goods: leisure, environmental quality and consumption of a private good. We assume that the production process of the private good depletes the natural resource and that the consumption of the private good...

Persistent link: https://www.econbiz.de/10005623372

Implementing Optimal Monetary Policy in New-Keynesian Models with Inertia

Evans, George W.; McGough, Bruce - Department of Economics, University of Oregon - 2006

We consider optimal monetary policy in New Keynesian models with inertia. First order conditions, which we call the MJB-alternative, are found to improve upon the timeless perspective. The MJB-alternative is shown to be the best possible in the sense that it minimizes policymakers' unconditional...

Persistent link: https://www.econbiz.de/10005635086