@techreport{Tesfaselassie2011Trend,
abstract = {The paper examines the effect of trend productivity growth on the determinacy and learnability of equilibria under alternative monetary policy rules. It shows that under a policy rule that responds to current period inflation and the output gap a higher trend growth rate relaxes the conditions for determinacy and learnability. Results are mixed for other policy rules. Under the expectations-based rule, trend growth reduces the scope for determinacy but it relaxes the conditions for learnability. Under the lagged-data-based rule rule trend growth reduces the scope for determinacy and learnability.},
address = {Kiel},
author = {Mewael Tesfaselassie},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {E4; E5; 330; trend growth; learning; monetary policy; determinacy; expectational stability},
language = {eng},
number = {1744},
publisher = {Kiel Institute for the World Economy (IfW)},
title = {Trend growth and learning about monetary policy rules},
type = {Kiel Working Papers},
url = {http://hdl.handle.net/10419/53150},
year = {2011}
}
