Learning about monetary policy rules when the cost-channel matters
نویسندگان
چکیده
منابع مشابه
Learning about monetary policy rules when the housing market matters
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Bank of Chile. We thank P. García, L. O. Herrera, J. Marshall, K. Schmidt-Hebbel, R. Vergara, and participants in the Third Annual Conference of the Central Bank of Chile, “Monetary Policy: Rules and Transmission Mechanisms”, for helpful comments. All remaining errors are our responsibility. This paper presents the views of the authors and does not necessarily represent in any way the positions...
متن کاملDiscussion of Preston , “ Learning about Monetary Policy Rules when Long - Horizon Expectations Matter ”
The design of interest rate rules for conducting monetary policy have recently been examined for two key concerns. The first issue is determinacy of equilibria. Indeterminacy (multiplicity of stationary rational expectations equilibria) is a concern in models of monopolistic competition and price stickiness are currently a popular framework for the study of monetary policy. The second issue is ...
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ژورنال
عنوان ژورنال: Journal of Economic Dynamics and Control
سال: 2009
ISSN: 0165-1889
DOI: 10.1016/j.jedc.2009.05.001