Gavin, William T.; Keen, Benjamin D.; Pakko, Michael R. - Federal Reserve Bank of St. Louis - 2005
This paper revisits the issue of money growth versus the interest rate as the instrument of monetary policy. Using a … dynamic stochastic general equilibrium framework, we examine the effects of alternative monetary policy rules on inflation …-8592
pakko@stls.frb.org
Key words: Monetary Policy Rules, Sticky Prices, Flexible Prices
JEL Classification: E31, E32, E …