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SFB 649 Discussion Papers, HU Berlin >
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http://hdl.handle.net/10419/56663
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| Title: | | Sticky information and determinacy  |
| Authors: | | Meyer-Gohde, Alexander |
| Issue Date: | | 2011 |
| Series/Report no.: | | SFB 649 discussion paper 2011-006 |
| Abstract: | | The infinite-dimensional sticky-information Phillips curve is cast as a finite-dimensional timevarying system of difference equations in order to directly assess determinacy in the model with demand given by the forward-looking IS equation and monetary policy by an interest rate rule. An equivalence to the model without lagged expectations holds (albeit tenuously) for the particular specification and a common truncation method produces spurious determinacy. |
| Subjects: | | determinacy Taylor rule sticky Information time-varying difference equations |
| JEL: | | C62 E31 E43 E52 |
| Document Type: | | Working Paper |
| Appears in Collections: | | SFB 649 Discussion Papers, HU Berlin
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