Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5098686 | Journal of Economic Dynamics and Control | 2013 | 10 Pages |
Abstract
We consider a medium-scale New-Keynesian model which combines features that have been shown to explain fairly well postwar U.S. business cycles. Our main result demonstrates that the determinacy properties of forward-looking interest rate rules resemble, at least qualitatively, the corresponding outcomes under current-looking rules. We explain how and why the empiri-cally relevant features of our model generate this novel result.
Related Topics
Physical Sciences and Engineering
Mathematics
Control and Optimization
Authors
Tommy Sveen, Lutz Weinke,