Monetary policy with single instrument feedback rules

We consider a standard cash in advance monetary model with flexible prices or prices set in advance and show that there are interest rate or money supply rules such that equilibria are unique. The existence of these single instrument rules depends on whether the economy has an infinite horizon or an arbitrarily large but finite horizon.

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Year of publication:	2004
Authors:	Adão, Bernardino ; Correia, Isabel ; Teles, Pedro
Institutions:	Federal Reserve Bank of Chicago
Subject:	Monetary policy \| Prices

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Extent:	application/pdf
Series:	Working Paper Series.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number WP-04-30
Source:	RePEc - Research Papers in Economics

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