The Alleged Instability of Nominal Income Targeting PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download The Alleged Instability of Nominal Income Targeting PDF full book. Access full book title The Alleged Instability of Nominal Income Targeting by . Download full books in PDF and EPUB format.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: Bennett T. McCallum
Publisher:
ISBN:
Category : Income
Languages : en
Pages : 22
Get Book Here
Book Description
Recently it has been argued that a monetary policy of nominal income and targeting" would result in dynamically unstable processes for output and inflation. That results holds in a" theoretical model that includes backward-looking IS an Phillips curve relations rather special and theoretically unattractive. The present paper demonstrates that replacement of" the special Phillips curve with one of several more plausible specifications overturns the" instability result, whether or not the IS equation is replaced with a forward-looking version. " Thus the instability result is quire fragile and therefore provides almost no basis for a negative" judgment regarding nominal income targeting.
Author: Alfred V. Guender
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Get Book Here
Book Description
Author: Ming-fu Shaw
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: Alfred V. Guender
Publisher:
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 48
Get Book Here
Book Description
Author: Alfred V. Guender
Publisher:
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 32
Get Book Here
Book Description
Author: Bennett T. McCallum
Publisher:
ISBN:
Category : Econometric models
Languages : en
Pages : 60
Get Book Here
Book Description
Author: Richard Dennis
Publisher:
ISBN:
Category : Gross domestic product
Languages : en
Pages : 42
Get Book Here
Book Description
Author: Carl E. Walsh
Publisher: MIT Press
ISBN: 9780262232319
Category : Business & Economics
Languages : en
Pages : 636
Get Book Here
Book Description
An overview of recent theoretical and policy-related developments in monetary economics.
Author: Carl E. Walsh
Publisher: MIT Press
ISBN: 0262303736
Category : Business & Economics
Languages : en
Pages : 639
Get Book Here
Book Description
A new edition of the leading text in monetary economics, a comprehensive treatment revised and enhanced with new material reflecting recent advances in the field. This text presents a comprehensive treatment of the most important topics in monetary economics, focusing on the primary models monetary economists have employed to address topics in theory and policy. It covers the basic theoretical approaches, shows how to do simulation work with the models, and discusses the full range of frictions that economists have studied to understand the impacts of monetary policy. Among the topics presented are money-in-the-utility function, cash-in-advance, and search models of money; informational, portfolio, and nominal rigidities; credit frictions; the open economy; and issues of monetary policy, including discretion and commitment, policy analysis in new Keynesian models, and monetary operating procedures. The use of models based on dynamic optimization and nominal rigidities in consistent general equilibrium frameworks, relatively new when introduced to students in the first edition of this popular text, has since become the method of choice of monetary policy analysis. This third edition reflects the latest advances in the field, incorporating new or expanded material on such topics as monetary search equilibria, sticky information, adaptive learning, state-contingent pricing models, and channel systems for implementing monetary policy. Much of the material on policy analysis has been reorganized to reflect the dominance of the new Keynesian approach. Monetary Theory and Policy continues to be the only comprehensive and up-to-date treatment of monetary economics, not only the leading text in the field but also the standard reference for academics and central bank researchers.
