|
EconStor >
Bank of Canada, Ottawa >
Bank of Canada Working Papers >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/53772
|
| | |
Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Cateau, Gino | | en_US |
| dc.date.accessioned | | 2011-12-15T12:55:37Z | | - |
| dc.date.available | | 2011-12-15T12:55:37Z | | - |
| dc.date.issued | | 2009 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/53772 | | - |
| dc.description.abstract | | This paper proposes a simple analytical method to determine the stationarity of an unnormalized variable from the solution to a normalized model i.e. a model whose variables must be expressed in relative terms or must be differenced for a solution to exist. The paper then applies the methodto answer a question of interest to policy-makers: does optimal policy under commitment lead to stationarity in the price level? Unlike Gaspar, Smets, and Vestin (2007), the paper finds that optimal policy under commitment does not lead to price level stationarity in the Smets and Wouters (2003) model. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Bank of Canada Ottawa | | en_US |
| dc.relation.ispartofseries | | Bank of Canada Working Paper 2009,8 | | en_US |
| dc.subject.jel | | E52 | | en_US |
| dc.subject.jel | | E58 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Monetary policy framework | | en_US |
| dc.subject.stw | | Geldpolitik | | en_US |
| dc.subject.stw | | Preisniveaustabilität | | en_US |
| dc.subject.stw | | Theorie | | en_US |
| dc.title | | Optimal policy under commitment and price level stationarity | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 597605955 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | en_US |
| Appears in Collections: | | Bank of Canada Working Papers
|
| Files in This Item:
| |
|
| No. of Downloads:
| |
| last Month |
last 3 Month |
total |
|
|
|
|
|
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.
|