Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5098413 | Journal of Economic Dynamics and Control | 2014 | 4 Pages |
Abstract
This paper considers the use of new Keynesian open economy models to evaluate monetary policy rules. While recognizing the importance policy evaluation with such models, it presents a number of criticisms about assumptions relating to wage determination, the real interest rate, divine coincidence and financial stability.
Keywords
Related Topics
Physical Sciences and Engineering
Mathematics
Control and Optimization
Authors
Maurice Obstfeld,