We study how determinacy and learnability of global rational expectations equilibrium may be affected by monetary policy in a simple, two country, New Keynesian framework. The two blocks may be viewed as the U.S. and Europe, or as regions within the euro zone. We seek to understand how monetary...

We study how determinacy and learnability of worldwide rational expectations equilibrium may be affected by monetary policy in a simple, two country, New Keynesian framework under both fixed and flexible exchange rates. We find that open economy considerations may alter conditions for...

Die vorliegende Projektstudie ist in vier Hauptteile gegliedert, in denen jeweils spezifische Aspekte schwerpunktmäßig thematisiert werden. -- Hansjörg Klausinger sichtet klassische, keynesianische und monetaristische Erklärungen der "Großen Depression" und diskutiert vor diesem Hintergrund...