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determinacy in a sticky price model with positive steady-state inflation, interest rate smoothing in monetary policy, partial …
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determinacy in a sticky price model with positive steady-state inflation, interest rate smoothing in monetary policy, partial …
Persistent link: https://www.econbiz.de/10013035276
We present determinacy bounds on monetary policy in the sticky information model. We find that these bounds are more … authority's concern for inflation. These determinacy bounds are obtained by appealing to frequency domain techniques that …
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We study the properties of the optimal nominal interest rate policy under different levels of price indexation. In our model indexation regulates the sources of inflation persistence. When indexation is zero, the inflation gap is purely forward- looking and inflation persistence depends only on...
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targets (inflation and output gap) are forward-looking variables in the new-Keynesian theory …
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