MOONS, Cindy; GARRETSEN, Harry; VAN AARLE, Bas; … - Faculteit Toegepaste Economische Wetenschappen, … - 2007
This paper analyses monetary policy in a stylized new-Keynesian model. A number of issues are focused upon: (i) optimal monetary policy under commitment or discretion vs. ad-hoc monetary policy based on simple rules, (ii) the effects of fiscal policies and foreign variables on monetary policy,...