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Modeling US inflation dynamics: persistence and monetary policy regimes

โœ Scribed by Chengsi Zhang; Joel Clovis


Publisher
Springer-Verlag
Year
2008
Tongue
English
Weight
628 KB
Volume
36
Category
Article
ISSN
0377-7332

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Nonlinear Phillips curves, complex dynam
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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