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dc.contributor.authorMeyer-Gohde, Alexanderen
dc.date.accessioned2008-11-07-
dc.date.accessioned2009-07-23T15:04:05Z-
dc.date.available2009-07-23T15:04:05Z-
dc.date.issued2008-
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
dc.language.isoengen
dc.publisher|aHumboldt University of Berlin, Collaborative Research Center 649 - Economic Risk |cBerlinen
dc.relation.ispartofseries|aSFB 649 Discussion Paper |x2008,054en
dc.subject.jelC62en
dc.subject.jelE31en
dc.subject.jelE52en
dc.subject.jelE58en
dc.subject.jelE61en
dc.subject.ddc330en
dc.subject.keywordNonautonomous difference equationsen
dc.subject.keywordindeterminacyen
dc.subject.keywordTaylor ruleen
dc.subject.keywordsticky informationen
dc.subject.keywordsticky pricesen
dc.subject.stwGeldpolitiken
dc.subject.stwTaylor-Regelen
dc.subject.stwEntscheidung bei Unsicherheiten
dc.subject.stwNatürliche Arbeitslosigkeiten
dc.subject.stwUngleichgewichtstheorieen
dc.subject.stwInformationen
dc.subject.stwPreisrigiditäten
dc.subject.stwAnalysisen
dc.subject.stwTheorieen
dc.titleThe natural rate hypothesis and real determinacy-
dc.type|aWorking Paperen
dc.identifier.ppn584572751en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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