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A Case for Interest Rate Inertia in Monetary Policy

Bask, Mikael - Nationalekonomiska Institutionen, Uppsala Universitet - 2011

We argue that it is not necessary for the central bank to react to the exchange rate to have a desirable outcome in the economy. Indeed, when the Taylor rule includes contemporaneous data on the variables in the rule, the central bank can disregard from the exchange rate as long as there is...

Persistent link: https://www.econbiz.de/10009324198

Dynamic Fiscal Policies and Endogenous Growth

Park, Hyun - In: Journal of Economic Integration 20 (2005), pp. 347-365

uniqueness of the (positive) balanced growth path and determinacy of transitional dynamics. The same sufficient condition ensures …

Persistent link: https://www.econbiz.de/10009390597

Learning, Monetary Policy and Housing Prices

Kanik, Birol - Türkiye Cumhuriyet Merkez Bankası - 2012

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

Persistent link: https://www.econbiz.de/10009398271

Learning, monetary policy and housing prices

KANIK, Birol - Volkswirtschaftliche Fakultät, … - 2011

Persistent link: https://www.econbiz.de/10009401305

Limited asset market participation: does it really matter for monetary policy?

Ascari, Guido; Colciago, Andrea; Rossi, Lorenza - Suomen Pankki - 2011

determinacy for any empirically plausible degree of LAMP; ii) the implications of LAMP for the design of optimal monetary policy …

Persistent link: https://www.econbiz.de/10009643486

Trend Growth and Learning About Monetary Policy Rules

Tesfaselassie, Mewael - Institut für Weltwirtschaft (IfW) - 2011

The paper examines the effect of trend productivity growth on the determinacy and learnability of equilibria under … a higher trend growth rate relaxes the conditions for determinacy and learnability. Results are mixed for other policy … rules. Under the expectations-based rule, trend growth reduces the scope for determinacy but it relaxes the conditions for …

Persistent link: https://www.econbiz.de/10009365996

Expectations, Learning and Monetary Policy: An Overview of Recent Research

Evans, George; Honkapohja, Seppo - Scottish Institute for Research in Economics (SIRE) - 2008

Expectations about the future are central for determination of current macroeconomic outcomes and the formulation of monetary policy. Recent literature has explored ways for supplementing the benchmark of rational expectations with explicit models of expectations formation that rely on...

Persistent link: https://www.econbiz.de/10010552353

Robust identification conditions for determinate and indeterminate linear rational expectations models

Fanelli, Luca - Dipartimento di Scienze Statistiche "Paolo Fortunati", … - 2011

-based (classical or Bayesian) empirical investigation of determinacy/indeterminacy in stationary LRE models and are particular useful …

Persistent link: https://www.econbiz.de/10011228050

Heterogeneous expectations in monetary DSGE models

Massaro, Domenico - In: Journal of Economic Dynamics and Control 37 (2013) 3, pp. 680-692

rational expectations. We then address determinacy issues related to the use of different interest rate rules and derive policy …

Persistent link: https://www.econbiz.de/10010608462

Macroeconomic equilibrium and welfare under simple monetary and switching fiscal policy rules

Danciulescu, Cristina - In: Economic Modelling 36 (2014) C, pp. 58-68

determinacy and macroeconomic performance of simple monetary policy rules under exogenous versus endogenous tax policies when … control on the determinacy region, hence higher policy flexibility with respect to the fiscal policy conduct; 2. welfare …

Persistent link: https://www.econbiz.de/10010729810