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Trend Growth and Learning About Monetary Policy Rules in a Two-Block World Economy

Schaling, Eric; Tesfaselassie, Mewael F. - Institut für Weltwirtschaft (IfW) - 2013

of openness and growth on determinacy and learnability of worldwide rational expectations equilibria we develop a two … (i) under the contemporaneous data policy rule the conditions for determinacy and learnability become more stringent on … expectations-based policy rule the conditions for determinacy and learnability also become more stringent on account of openness …

Persistent link: https://www.econbiz.de/10010886862

Monetary Policy Indeterminacy and Identification Failures in the U.S.: Results from a Robust Test

Castelnuovo, Efrem; Fanelli, Luca - Melbourne Institute of Applied Economic and Social … - 2014

reduced form solution under determinacy. If the CER are not rejected, sunspot-driven expectations can be ruled out from the …

Persistent link: https://www.econbiz.de/10010902168

Price Indexation, Habit Formation, and the Generalized Taylor Principle

Bhattarai, Saroj; Lee, Jae Won; Park, Woong Yong - Crawford School of Public Policy, Australian National … - 2013

determinacy in a sticky price model with positive steady-state inflation, interest rate smoothing in monetary policy, partial …

Persistent link: https://www.econbiz.de/10010904268

An Extension of the Sard-Smale Theorem to Domains with an Empty Interior

Accinelli, Elvio; Covarrubias, Enrique - Banco de México - 2013

, ranging from the definition of a derivative, to the use of more sophisticated results needed to understand determinacy of …

Persistent link: https://www.econbiz.de/10010907564

Learning, Monetary Policy, and Housing Prices

Kanik, Birol - In: Central Bank Review 12 (2012) 1, pp. 13-36

This paper evaluates different types of simple monetary policy rules according to the determinacy and the learnability … objective is to investigate whether responding to housing prices affects determinacy and learnability of rational expectations …

Persistent link: https://www.econbiz.de/10010941567

Stability and determinacy conditions for mixed-type functional differential equations

d’Albis, Hippolyte; Augeraud-Véron, Emmanuelle; … - In: Journal of Mathematical Economics 53 (2014) C, pp. 119-129

the local stability and determinacy properties of the steady state. In particular, it is shown that the relationship …

Persistent link: https://www.econbiz.de/10010931619

Monetary Policy, Trend Inflation and the Great Moderation: An Alternative Interpretation - Comment

Arias, Jonas E.; Ascari, Guido; Branzoli, Nicola; … - Federal Reserve Board (Board of Governors of the … - 2014

Working with a small-scale calibrated New-Keynesian model, Coibion and Gorodnichenko (2011) find that the reduction in trend inflation during Volcker's mandate was a key factor behind the Great Moderation. We revisit this finding with an estimated New-Keynesian model with trend inflation and no...

Persistent link: https://www.econbiz.de/10011268461

Sufficient Conditions for Determinacy in a Class of Markov-Switching Rational Expectations Models

Cho, Seonghoon - In: Review of Economic Dynamics

conditions for determinacy and indeterminacy in the mean-square stability sense in general MSRE models with lagged endogenous … find some unforeseen but intuitive determinacy results. (Copyright: Elsevier) …

Persistent link: https://www.econbiz.de/10011262704

Determinacy of Interest Rate Rules with Bond Transaction Services in a Cashless Economy

Marzo, Massimiliano; Zagaglia, Paolo - Nationalekonomiska institutionen, Stockholms Universitet - 2008

Canzoneri and Diba (2004) show that the Taylor principle is not a panacea for equilibrium determinacy in a model where …

Persistent link: https://www.econbiz.de/10005207069

Determinacy, Learnability, and Monetary Policy Inertia

Bullard, James; Mitra, Kaushik - Department of Economics and Related Studies, University …

determinacy and learnability of a rational expectations equilibrium. The context is a simple, forward-looking model of the …

Persistent link: https://www.econbiz.de/10005328546