Inflation targeting, output stabilization, and real indeterminacy in monetary models with an interest rate rule.

Central banks set the nominal interest rate to target inflation and stabilize output. In monetary models, monetary policy affects output directly via the wealth effect. I show that in these models, the response of the central bank to fluctuations in output may induce real indeterminacy even if the T...

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Publicado en:	Economic Inquiry Vol. 62; no. 4; pp. 1467 - 1494
Autor principal:	Platonov, Konstantin
Formato:	Artículo
Publicado:	Wiley-Blackwell Oct2024
Materias:	Elasticity (Economics) Interest rates Taylor's rule Inflation targeting Monetary policy
Acceso en línea:	Ver este registro en EBSCOhost