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Sonderforschungsbereich 649: Ökonomisches Risiko, Humboldt-Universität Berlin >
SFB 649 Discussion Papers, HU Berlin >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/25297
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Meyer-Gohde, Alexander | | en_US |
| dc.date.accessioned | | 2008-11-07 | | en_US |
| dc.date.accessioned | | 2009-07-23T15:04:05Z | | - |
| dc.date.available | | 2009-07-23T15:04:05Z | | - |
| dc.date.issued | | 2008 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/25297 | | - |
| dc.description.abstract | | The uniqueness of bounded local equilibria under interest rate rules is analyzed in a model with sticky information `a 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(\infty) representation of variables’ reaction to endogenous fluctuations. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | SFB 649, Economic Risk Berlin | | en_US |
| dc.relation.ispartofseries | | SFB 649 discussion paper 2008,054 | | en_US |
| dc.subject.jel | | C62 | | en_US |
| dc.subject.jel | | E31 | | en_US |
| dc.subject.jel | | E52 | | en_US |
| dc.subject.jel | | E58 | | en_US |
| dc.subject.jel | | E61 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Nonautonomous difference equations | | en_US |
| dc.subject.keyword | | indeterminacy | | en_US |
| dc.subject.keyword | | Taylor rule | | en_US |
| dc.subject.keyword | | sticky information | | en_US |
| dc.subject.keyword | | sticky prices | | en_US |
| dc.subject.stw | | Geldpolitik | | en_US |
| dc.subject.stw | | Taylor-Regel | | en_US |
| dc.subject.stw | | Entscheidung bei Unsicherheit | | en_US |
| dc.subject.stw | | Natürliche Arbeitslosigkeit | | en_US |
| dc.subject.stw | | Ungleichgewichtstheorie | | en_US |
| dc.subject.stw | | Information | | en_US |
| dc.subject.stw | | Preisrigidität | | en_US |
| dc.subject.stw | | Analysis | | en_US |
| dc.subject.stw | | Theorie | | en_US |
| dc.title | | The natural rate hypothesis and real determinacy | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 584572751 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| Appears in Collections: | | SFB 649 Discussion Papers, HU Berlin
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