Bounded rational expectations and the stability of interest rate policy
The New Keynesian model has recently been subject to two serious criticisms: the model cannot produce plausible inflation and output dynamics following a monetary shock, and the stability of its dynamics suffers from indeterminacy. The procedures that have been proposed to eliminate these two shortc...
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| Other Authors: | , |
| Format: | article |
| Language: | eng |
| Published: |
2015
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| Subjects: | |
| Online Access: | https://ciencia.iscte-iul.pt/public/pub/id/22746 |
| Country: | Portugal |
| Oai: | oai:repositorio.iscte-iul.pt:10071/9034 |