EconStor >
Verein für Socialpolitik >
Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/37245
  

Full metadata record

DC FieldValueLanguage
dc.contributor.authorMeyer-Gohde, Alexanderen_US
dc.date.accessioned2010-08-11T08:53:14Z-
dc.date.available2010-08-11T08:53:14Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/37245-
dc.description.abstractThe analysis of this paper examines the uniqueness of equilibria in a broad class of dynamic monetary models that satisfy Lucas's (1972) natural rate hypothesis (NRH). For a given demand specification, the resulting bounds for determinacy on monetary policy's interest rate rule are the same for all supply specifications, save isolated singularities. Thus, the monetary authority needs no knowledge of the supply side to ensure determinacy - with the standard dynamic IS-equation, determinacy is solely a function of parameters in the interest rate. Cochrane's (2007) criticism of determinacy as a means of ascertaining equilibrium in monetary models is confronted with this broad class appended to include money. With monetary policy specified only by the nominal interest rate, the critique is verified with hyperinflations and -deflations being accommodated by monetary policy. A credible commitment on behalf of the monetary authority to keep the money growth rate finite suffices to rule out the accommodated nominal explosions.en_US
dc.language.isoengen_US
dc.publisherVerein für Socialpolitik Frankfurt a. M.en_US
dc.relation.ispartofseriesBeiträge zur Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie - Session: Monetary Policy Rules A16-V3en_US
dc.subject.jelE52en_US
dc.subject.jelE58en_US
dc.subject.jelC62en_US
dc.subject.ddc330en_US
dc.subject.keywordIndeterminacyen_US
dc.subject.keywordTaylor ruleen_US
dc.subject.keywordLearningen_US
dc.subject.keywordSticky pricesen_US
dc.subject.keywordNatural rate hypothesisen_US
dc.titleEquilibrium Selection and Monetary Policy; A Natural Rate Perspectiveen_US
dc.typeConference Paperen_US
dc.identifier.ppn655955682-
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie

Files in This Item:
File Description SizeFormat
VfS_2010_pid_1010.pdf296.98 kBAdobe PDF
No. of Downloads: Counter Stats
Show simple item record
Download bibliographical data as: BibTeX

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.