Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
9549277 | Economics Letters | 2005 | 5 Pages |
Abstract
Within a monetary sticky-price model, this paper shows that the optimal discretionary policy, which looks a lot like the Taylor rule, brings about determinacy and least-squares learnability of rational expectations equilibria if and only if it satisfies the long-run version of the Taylor principle.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Takushi Kurozumi,