Constant Interest Rate Projections without the Curse of Indeterminacy

Constant interest rate (CIR) projections are often criticized on the grounds that they are inconsistent with the existence of a unique equilibrium in a variety of forward-looking models. This note shows how to construct CIR projections that are not subject to that criticism, using a standard New Keynesian model as a reference framework

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Year of publication:	[2007]
Authors:	Galí, Jordi
Publisher:	[2007]: [S.l.] : SSRN
Subject:	Zins \| Interest rate \| Theorie \| Theory \| Inflationssteuerung \| Inflation targeting \| Neoklassische Synthese \| Neoclassical synthesis \| Prognoseverfahren \| Forecasting model

Extent:	1 Online-Ressource (11 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments August 2007 erstellt
Other identifiers:	10.2139/ssrn.1028223 [DOI]
Classification:	E37 - Forecasting and Simulation ; E58 - Central Banks and Their Policies
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://ebvufind01.dmz1.zbw.eu/10012728675