| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 965549 | Journal of Macroeconomics | 2012 | 20 Pages |
Abstract
⺠The paper compares properties of two monetary policy rules: (i) a constant money growth rule and (ii) an interest rate targeting rule. ⺠The results of this comparison depend on whether under the overall monetary-fiscal regime long-run real interest rates are independent of inflation. ⺠The paper shows how unique and determinate dynamics can be established for either type of rule for a broad range of such regimes.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Leopold von Thadden,