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Active monetary policy and instability in a phillips curve system

✍ Scribed by Juan D. Montoro; Jose V. Paz; Miguel Roig

Book ID
114130604
Publisher
Elsevier Science
Year
1998
Tongue
English
Weight
1022 KB
Volume
20
Category
Article
ISSN
0164-0704

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✍ Carl Chiarella; Peter Flaschel; Gang Gong; Willi Semmler πŸ“‚ Article πŸ“… 2003 πŸ› Elsevier Science 🌐 English βš– 540 KB

In the framework of a Keynesian monetary macro model we study implications of kinked Phillips curves and alternative monetary policy rules. As alternative monetary policy rules we consider monetary growth targeting and interest rate targeting (the Taylor rule). Our monetary macro model exhibits: ass