Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/25297
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dc.contributor.authorMeyer-Gohde, Alexanderen_US
dc.date.accessioned2008-11-07en_US
dc.date.accessioned2009-07-23T15:04:05Z-
dc.date.available2009-07-23T15:04:05Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/25297-
dc.description.abstractThe uniqueness of bounded local equilibria under interest rate rules is analyzed in a model with sticky information à la Mankiw and Reis (2002). The main results are tighter bounds on monetary policy than in sticky-price models, irrelevance of the degree of output-gap targeting for determinacy, independence of determinacy regions from parameters outside the interest-rate rule, and equivalence between real determinacy in models satisfying the natural rate hypothesis and nominal determinacy in the associated full-information, flex-price equivalent. The analysis follows from boundedness considerations on the nonautonomous recursion that describe the MA(∞) representation of variables' reaction to endogenous fluctuations.en_US
dc.language.isoengen_US
dc.publisher|aSFB 649, Economic Risk|cBerlinen_US
dc.relation.ispartofseries|aSFB 649 discussion paper|x2008,054en_US
dc.subject.jelC62en_US
dc.subject.jelE31en_US
dc.subject.jelE52en_US
dc.subject.jelE58en_US
dc.subject.jelE61en_US
dc.subject.ddc330en_US
dc.subject.keywordNonautonomous difference equationsen_US
dc.subject.keywordindeterminacyen_US
dc.subject.keywordTaylor ruleen_US
dc.subject.keywordsticky informationen_US
dc.subject.keywordsticky pricesen_US
dc.subject.stwGeldpolitiken_US
dc.subject.stwTaylor-Regelen_US
dc.subject.stwEntscheidung bei Unsicherheiten_US
dc.subject.stwNatürliche Arbeitslosigkeiten_US
dc.subject.stwUngleichgewichtstheorieen_US
dc.subject.stwInformationen_US
dc.subject.stwPreisrigiditäten_US
dc.subject.stwAnalysisen_US
dc.subject.stwTheorieen_US
dc.titleThe natural rate hypothesis and real determinacyen_US
dc.type|aWorking Paperen_US
dc.identifier.ppn584572751en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-

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