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Determinancy in Infinite Horizon Exchange Economies

Shannon, Chris - Institute of Business and Economic Research (IBER), … - 1994

Persistent link: https://www.econbiz.de/10010843290

Holden, Tom D. - 2022

Central banks wish to avoid self-fulfilling fluctuations. Monetary rules with a unit response to real rates achieve this under the weakest possible assumptions about the behaviour of households and firms. They are robust to household heterogeneity, hand-to-mouth consumers, non-rational...

Persistent link: https://www.econbiz.de/10013465049

Frequency of trade and the determinacy of equilibrium paths: Logarithmic economies of overlapping generations under certainty

DeMichelis, Stefano; Polemarchakis, Heraklis - 2002

, determinacy obtains as the frequency of trades tends to infinity or trade occurs in continuous time. If time extends infinitely …

Persistent link: https://www.econbiz.de/10010318966

Grundzüge der Neuen Keynesianischen Makroökonomik

Reither, Franco - 2003

Die Neue Keynesianische Makroökonomik bietet ein alternatives Paradigma zum herkömmlichen IS-LM-Modell. Ihre Grundzüge werden anhand einer sehr einfachen Version vorgestellt. Die dynamischen Implikationen der Methodik rationaler Erwartungen werden erläutert. Es zeigen sich Grenzen für die...

Persistent link: https://www.econbiz.de/10010263407

Trend growth and learning about monetary policy rules in a two-block world economy

Schaling, Eric; Tesfaselassie, Mewael F. - 2013

of openness and growth on determinacy and learnability of worldwide rational expectations equilibria we develop a two … (i) under the contemporaneous data policy rule the conditions for determinacy and learnability become more stringent on … expectations-based policy rule the conditions for determinacy and learnability also become more stringent on account of openness …

Persistent link: https://www.econbiz.de/10010292721

Monetary policy, determinacy, and the natural rate hypothesis

Meyer-Gohde, Alexander - 2011

Imposing the natural rate hypothesis (NRH) can dramatically alter the determinacy bounds on monetary policy by closing … the output gap in the long run. I show that the hypothesis eliminates any role for the output gap in determinacy and … renders the conditions for determinacy identical for all conforming supply equations. Specializing further to IS demand …

Persistent link: https://www.econbiz.de/10010333041

Monetary Policy, Rule-of-Thumb Consumers and External Habits: A G7 Comparison

Di Bartolomeo, Giovanni; Rossi, Lorenza; Tancioni, … - 2009

This paper extends the standard New Keynesian dynamic stochastic general equilibrium (DSGE) model to agents who cannot smooth consumption (i.e. spenders) and are affected by external consumption habits. Although these assumptions are not new, their joint consideration strongly affects some...

Persistent link: https://www.econbiz.de/10010335262

Limited Asset Market Participation: Does it Really Matter for Monetary Policy?

Ascari, Guido; Colciago, Andrea; Rossi, Lorenza - 2010

determinacy for any empirically plausible degree of LAMP; ii) the effect of LAMP for the design of optimal monetary policy are …

Persistent link: https://www.econbiz.de/10010335268

An extension of the sard-smale theorem to domains with an empty interior

Accinelli, Elvio; Covarrubias, Enrique - 2013

, ranging from the definition of a derivative, to the use of more sophisticated results needed to understand determinacy of …

Persistent link: https://www.econbiz.de/10010392394

Determinacy with Capital Adjustment - Costs and Sector-Specific Externalities

Herrendorf, Berthold; Valentinyi, Akos - 2000

This paper explores the stability properties of the steady state in the standard two-sector real business cycle model with a sector-specific externality in the capital-producing sector. When the steady state is stable then equilibrium is indeterminate and stable sunspots are possible. We find...

Persistent link: https://www.econbiz.de/10010494267