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Endogenous Monetary Policy with Unobserved Potential Output
Cukierman, Alex; Lippi, Francesco - C.E.P.R. Discussion Papers - 2003
in output and inflation are due to changes in potential output or to cyclical demand and cost shocks. We refer to this … information benchmark. This provides a partial but unified explanation for the inflation of the seventies and the price stability …, during and following periods of large changes in potential output, the IP significantly affects the dynamics of inflation and …
Persistent link: https://www.econbiz.de/10005792291
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Endogenous Monetary Policy with Unobserved Potential Output
Cukierman, Alex; Lippi, Francesco - Centro di Studi Internazionali Sull'Economia e la … - 2003
in output and inflation are due to changes in potential output or to cyclical demand and cost shocks. We refer to this … information benchmark. This provides a partial but unified explanation for the inflation of the seventies and the price stability …, during and following periods of large changes in potential output, the IP significantly affects the dynamics of inflation and …
Persistent link: https://www.econbiz.de/10005450643
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Information variables for monetary policy in a small structural model of the euro area
Lippi, Francesco; Neri, Stefano - Banca d'Italia - 2004
This paper estimates a small New-Keynesian model with imperfect information and optimal discretionary policy using data for the euro area. The model is used to assess the usefulness of monetary aggregates and unit labour costs as information variables for monetary policy. The estimates reveal...
Persistent link: https://www.econbiz.de/10005113646
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Endogenous monetary policy with unobserved potential output
Cukierman, Alex; Lippi, Francesco - Banca d'Italia - 2004
in output and inflation are due to changes in potential output or to cyclical demand and cost shocks. We refer to this … ndings provide a partial explanation for the inflation of the seventies and the price stability of the nineties. 3. A … during and following periods of large changes in potential output the IP significantly affects the dynamics of inflation and …
Persistent link: https://www.econbiz.de/10005113648
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Information Variables for Monetary Policy in a Small Structural Model of the Euro Area
Lippi, Francesco; Neri, Stefano - C.E.P.R. Discussion Papers - 2003
This Paper estimates a small New-Keynesian model with imperfect information and optimal discretionary policy using data for the euro area. The model is used to assess the usefulness of monetary aggregates and unit labour costs as information variables for monetary policy. The estimates reveal...
Persistent link: https://www.econbiz.de/10005666627