We present determinacy bounds on monetary policy in the sticky information model. We find that these bounds are more conservative here when the long run Phillips curve is vertical than in the standard Calvo sticky price New Keynesian model. Specifically, the Taylor principle is now necessary...

We present determinacy bounds on monetary policy in the sticky information model. We find that these bounds are more conservative here when the long run Phillips curve is vertical than in the standard Calvo sticky price New Keynesian model. Specifically, the Taylor principle is now necessary...

The probability-based approach to the linear model of international trade based on the theory of Markov processes with continuous time is analysed. A generalized continuous model of international trade is built, in which the transition of the system from state to state is described by linear...

The probability-based approach to the linear model of international trade based on the theory of Markov processes with continuous time is analysed. A generalized continuous model of international trade is built, in which the transition of the system from state to state is described by linear...