Optimal nominal interest rate rules are usually set assuming that the underlying world is linear. In this paper, we consider the performance of 'optimal' rules when the underlying relationship between in ation and the output gap may be nonlinear. In particular if the in ation-output trade-o exhibits
The Phillips curve and the natural rate of inflation
โ Scribed by David G. Hula
- Publisher
- Springer US
- Year
- 1991
- Tongue
- English
- Weight
- 441 KB
- Volume
- 24
- Category
- Article
- ISSN
- 0032-2687
No coin nor oath required. For personal study only.
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