Monetary Policy and Determinacy: An Inquiry into Open Economy New Keynesian Macrodynamics
Author
Abstract
Suggested Citation
DOI: 10.1007/s11079-022-09702-5
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Guido Ascari & Tiziano Ropele, 2009.
"Trend Inflation, Taylor Principle, and Indeterminacy,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(8), pages 1557-1584, December.
- Guido Ascari & Tiziano Ropele, 2009. "Trend Inflation, Taylor Principle, and Indeterminacy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(8), pages 1557-1584, December.
- Guido Ascari & Tiziano Ropele, 2005. "Trend Inflation, Taylor Principle and Indeterminacy," Working Papers 93, University of Milano-Bicocca, Department of Economics, revised Oct 2005.
- Guido Ascari & Tiziano Ropele, 2009. "Trend Inflation, Taylor Principle and Indeterminacy," Quaderni di Dipartimento 097, University of Pavia, Department of Economics and Quantitative Methods.
- Ascari, Guido & Ropele, Tiziano, 2007. "Trend Inflation, Taylor Principle and Indeterminacy," Kiel Working Papers 1332, Kiel Institute for the World Economy (IfW Kiel).
- Guido Ascari & Tiziano Ropele, 2009. "Trend inflation, Taylor principle and indeterminacy," Temi di discussione (Economic working papers) 708, Bank of Italy, Economic Research and International Relations Area.
- Michael T. Kiley, 2007.
"Is Moderate-to-High Inflation Inherently Unstable?,"
International Journal of Central Banking, International Journal of Central Banking, vol. 3(2), pages 173-201, June.
- Michael Kiley, 2004. "Is Moderate-To-High Inflation Inherently Unstable?," Econometric Society 2004 North American Summer Meetings 193, Econometric Society.
- Michael T. Kiley, 2004. "Is moderate-to-high inflation inherently unstable?," Finance and Economics Discussion Series 2004-43, Board of Governors of the Federal Reserve System (U.S.).
- Olivier Blanchard & Jordi Galí, 2010.
"Labor Markets and Monetary Policy: A New Keynesian Model with Unemployment,"
American Economic Journal: Macroeconomics, American Economic Association, vol. 2(2), pages 1-30, April.
- Olivier Blanchard & Jordi Galí, 2006. "Labor markets and monetary policy: A new-Keynesian model with unemployement," Economics Working Papers 1076, Department of Economics and Business, Universitat Pompeu Fabra, revised Mar 2008.
- Blanchard, Olivier & GalÃ, Jordi, 2008. "Labour Markets and Monetary Policy: A New Keynesian Model with Unemployment," CEPR Discussion Papers 6765, C.E.P.R. Discussion Papers.
- Olivier Blanchard & Jordi Gali, 2008. "Labor Markets and Monetary Policy: A New-Keynesian Model with Unemployment," NBER Working Papers 13897, National Bureau of Economic Research, Inc.
- Svensson, Lars E. O., 1997.
"Inflation forecast targeting: Implementing and monitoring inflation targets,"
European Economic Review, Elsevier, vol. 41(6), pages 1111-1146, June.
- Lars E. O. Svensson, 1996. "Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets," NBER Working Papers 5797, National Bureau of Economic Research, Inc.
- Svensson, Lars E.O., 1997. "Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets," Seminar Papers 615, Stockholm University, Institute for International Economic Studies.
- Svensson, L-E-O, 1996. "Inflation Forecast Targeting : Implementaing and Monitoring Inflation Targets," Papers 615, Stockholm - International Economic Studies.
- Lars E O Svensson, 1996. "Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets," Bank of England working papers 56, Bank of England.
- Svensson, Lars E O, 1996. "Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets," CEPR Discussion Papers 1511, C.E.P.R. Discussion Papers.
- Shigeto Kitano & Kenya Takaku, 2015.
"Monetary policy, incomplete asset markets, and welfare in a small open economy,"
Economics Bulletin, AccessEcon, vol. 35(1), pages 112-121.
- Shigeto Kitano & Kenya Takaku, 2014. "Monetary Policy, Incomplete Asset Markets, and Welfare in a Small Open Economy," Discussion Paper Series DP2014-39, Research Institute for Economics & Business Administration, Kobe University.
- James B. Bullard, 2006. "The learnability criterion and monetary policy," Review, Federal Reserve Bank of St. Louis, vol. 88(May), pages 203-217.
- Richard Clarida & Jordi Galí & Mark Gertler, 2000.
"Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 115(1), pages 147-180.
- Richard Clarida & Jordi Galí & Mark Gertler, 1997. "Monetary policy rules and macroeconomic stability: Evidence and some theory," Economics Working Papers 350, Department of Economics and Business, Universitat Pompeu Fabra, revised May 1999.
- Clarida, Richard & Galí, Jordi & Gertler, Mark, 1998. "Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory," CEPR Discussion Papers 1908, C.E.P.R. Discussion Papers.
- Richard Clarida & Jordi Gali & Mark Gertler, 1998. "Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory," NBER Working Papers 6442, National Bureau of Economic Research, Inc.
- Clarida, R. & Gali, J. & Gertler, M., 1998. "Monetary Policy Rules and Macroeconomic Stability: Evidence and some Theory," Working Papers 98-01, C.V. Starr Center for Applied Economics, New York University.
- Barnett, William A. & Chen, Guo, 2015.
"Bifurcation of Macroeconometric Models and Robustness of Dynamical Inferences,"
Foundations and Trends(R) in Econometrics, now publishers, vol. 8(1-2), pages 1-144, September.
- Barnett, William & Chen, Guo, 2015. "Bifurcation of Macroeconometric Models and Robustness of Dynamical Inferences," Studies in Applied Economics 32, The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise.
- William A. Barnett & Guo Chen, 2015. "Bifurcation of Macroeconometric Models and Robustness of Dynamical Inferences," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 201411, University of Kansas, Department of Economics, revised Apr 2015.
- William, Barnett & Guo, Chen, 2015. "Bifurcation of macroeconometric models and robustness of dynamical inferences," MPRA Paper 63772, University Library of Munich, Germany.
- Gabriel Karagiannides & Christos Liambas, 2019. "Determinacy and Taylor’s Rule with Different Degrees of Trade Openness in a Semi-New Keynesian Model," Applied Economics and Finance, Redfame publishing, vol. 6(6), pages 43-53, November.
- John B. Taylor, 1999. "Introduction to "Monetary Policy Rules"," NBER Chapters, in: Monetary Policy Rules, pages 1-14, National Bureau of Economic Research, Inc.
- Carlstrom, Charles T. & Fuerst, Timothy S. & Ghironi, Fabio, 2006.
"Does it matter (for equilibrium determinacy) what price index the central bank targets?,"
Journal of Economic Theory, Elsevier, vol. 128(1), pages 214-231, May.
- Charles T. Carlstrom & Timothy S. Fuerst & Fabio Ghironi, 2002. "Does It Matter (for Equilibrium Determinacy) What Price Index the Central Bank Targets?," Boston College Working Papers in Economics 533, Boston College Department of Economics, revised 07 Feb 2003.
- Charles T. Carlstrom & Timothy S. Fuerst & Fabio Ghironi, 2002. "Does it matter (for equilibrium determinacy) what price index the central bank targets?," Working Papers (Old Series) 0202, Federal Reserve Bank of Cleveland.
- Bullard, James & Mitra, Kaushik, 2002.
"Learning about monetary policy rules,"
Journal of Monetary Economics, Elsevier, vol. 49(6), pages 1105-1129, September.
- Kaushik Mitra & James Bullard, "undated". "Learning About Monetary Policy Rules," Discussion Papers 00/41, Department of Economics, University of York.
- James B. Bullard & Kaushik Mitra, 2002. "Learning about monetary policy rules," Working Papers 2000-001, Federal Reserve Bank of St. Louis.
- Stephen McKnight, 2011.
"Should Central Banks Target Consumer or Producer Prices?,"
International Finance, Wiley Blackwell, vol. 14(3), pages 445-479, December.
- Stephen McKnight, 2007. "Real Indeterminacy and the Timing of Money in Open Economies," Economics Discussion Papers em-dp2007-46, Department of Economics, University of Reading.
- Stephen McKnight, 2007. "Real Indeterminacy and the Timing of Money in Open Economies," Economic Analysis Research Group Working Papers earg-wp2007-09, Henley Business School, University of Reading.
- Stephen McKnight, 2011. "Real indeterminacy and the timing of money in open economies," Serie documentos de trabajo del Centro de Estudios Económicos 2011-01, El Colegio de México, Centro de Estudios Económicos.
- Ester Faia & Tommaso Monacelli, 2008.
"Optimal Monetary Policy in a Small Open Economy with Home Bias,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(4), pages 721-750, June.
- Ester Faia & Tommaso Monacelli, 2008. "Optimal Monetary Policy in a Small Open Economy with Home Bias," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(4), pages 721-750, June.
- Ester Faia & Tommaso Monacelli, 2006. "Optimal Monetary Policy in a Small Open Economy with Home Bias," Computing in Economics and Finance 2006 521, Society for Computational Economics.
- Monacelli, Tommas & Faia, Ester, 2006. "Optimal Monetary Policy in a Small Open Economy with Home Bias," CEPR Discussion Papers 5522, C.E.P.R. Discussion Papers.
- Barnett, William A. & Bella, Giovanni & Ghosh, Taniya & Mattana, Paolo & Venturi, Beatrice, 2022.
"Shilnikov chaos, low interest rates, and New Keynesian macroeconomics,"
Journal of Economic Dynamics and Control, Elsevier, vol. 134(C).
- Barnett, William A. & Bella, Giovanni & Ghosh, Taniya & Mattana, Paolo & Venturi, Beatrice, 2019. "Shilnikov Chaos, Low Interest Rates, And New Keynesian Macroeconomics," Studies in Applied Economics 142, The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise.
- William A. Barnett & Giovanni Bella & Taniya Ghosh & Paolo Mattana & Beatrice Venturi, 2020. "Shilnikov chaos, low interest rates, and new Keynesian macroeconomics," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2020-006, Indira Gandhi Institute of Development Research, Mumbai, India.
- William Barnett & Giovanni Bella & Taniya Ghosh & Paolo Mattana & Beatrice Venturi, 2020. "Shilnikov Chaos, Low Interest Rates, and New Keynesian Macroeconomics," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 202001, University of Kansas, Department of Economics, revised Jan 2020.
- Barnett, William & Bella, Giobanni & Ghosh, Taniya & Mattana, Paolo & Venturi, Beatrice, 2020. "Shilnikov Chaos, Low Interest Rates, and New Keynesian Macroeconomics," MPRA Paper 98417, University Library of Munich, Germany.
- Branch, William A. & McGough, Bruce, 2010. "Dynamic predictor selection in a new Keynesian model with heterogeneous expectations," Journal of Economic Dynamics and Control, Elsevier, vol. 34(8), pages 1492-1508, August.
- Barnett, William A. & Eryilmaz, Unal, 2013.
"Hopf bifurcation in the Clarida, Gali, and Gertler model,"
Economic Modelling, Elsevier, vol. 31(C), pages 401-404.
- Barnett, William A. & Eryilmaz, Unal, 2012. "Hopf bifurcation in the Clarida, Gali, and Gertler model," MPRA Paper 40668, University Library of Munich, Germany.
- William Barnett & Unal Eryilmaz, 2012. "Hopf Bifurcation in the Clarida, Gali, and Gertler Model," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 201211, University of Kansas, Department of Economics, revised Sep 2012.
- Olivier Coibion & Yuriy Gorodnichenko, 2011.
"Monetary Policy, Trend Inflation, and the Great Moderation: An Alternative Interpretation,"
American Economic Review, American Economic Association, vol. 101(1), pages 341-370, February.
- Olivier Coibion & Yuriy Gorodnichenko, 2008. "Monetary Policy, Trend Inflation and the Great Moderation: An Alternative Interpretation," NBER Working Papers 14621, National Bureau of Economic Research, Inc.
- Yuriy Gorodnichenko & Olivier Coibion, 2009. "Monetary Policy, Trend Inflation and the Great Moderation: An Alternative Interpretation," 2009 Meeting Papers 21, Society for Economic Dynamics.
- Olivier Coibion & Yuriy Gorodnichenko, 2010. "Monetary Policy, Trend Inflation and the Great Moderation:An Alternative Interpretation," Working Papers 94, Department of Economics, College of William and Mary.
- Huang, Kevin X.D. & Meng, Qinglai & Xue, Jianpo, 2009.
"Is forward-looking inflation targeting destabilizing? The role of policy's response to current output under endogenous investment,"
Journal of Economic Dynamics and Control, Elsevier, vol. 33(2), pages 409-430, February.
- Huang, Kevin X. D. & Meng, Qinglai, 2007. "Is forward-looking inflation targeting destabilizing? The role of policy's response to current output under endogenous investment," Kiel Working Papers 1348, Kiel Institute for the World Economy (IfW Kiel).
- Kevin X.D. Huang & Qinglai Meng, 2007. "Is Forward-Looking Inflation Targeting Destabilizing? The Role of Policy's Response to Current Output under Endogenous Investment," Vanderbilt University Department of Economics Working Papers 0704, Vanderbilt University Department of Economics.
- Patrick Minford & Naveen Srinivasan, 2011.
"Determinacy in New Keynesian Models: A Role for Money after All?,"
International Finance, Wiley Blackwell, vol. 14(2), pages 211-229, June.
- Minford, Patrick & Srinivasan, Naveen, 2009. "Determinacy in New Keynesian models: a role for money after all?," Cardiff Economics Working Papers E2009/21, Cardiff University, Cardiff Business School, Economics Section, revised Apr 2011.
- Minford, Patrick & Srinivasan, Naveen, 2010. "Determinacy in New Keynesian Models: a role for money after all?," CEPR Discussion Papers 7960, C.E.P.R. Discussion Papers.
- Carl E. Walsh, 2003. "Monetary Theory and Policy, 2nd Edition," MIT Press Books, The MIT Press, edition 2, volume 1, number 0262232316, April.
- Giannoni, Marc P., 2014.
"Optimal interest-rate rules and inflation stabilization versus price-level stabilization,"
Journal of Economic Dynamics and Control, Elsevier, vol. 41(C), pages 110-129.
- Marc Giannoni, 2012. "Optimal interest rate rules and inflation stabilization versus price-level stabilization," Staff Reports 546, Federal Reserve Bank of New York.
- Clarida, Richard & Gali, Jordi & Gertler, Mark, 2002.
"A simple framework for international monetary policy analysis,"
Journal of Monetary Economics, Elsevier, vol. 49(5), pages 879-904, July.
- Gertler, Mark & Clarida, Richard & GalÃ, Jordi, 2002. "A Simple Framework for International Monetary Policy Analysis," CEPR Discussion Papers 3355, C.E.P.R. Discussion Papers.
- Richard Clarida & Jordi Gali & Mark Gertler, 2002. "A Simple Framework for International Monetary Policy Analysis," NBER Working Papers 8870, National Bureau of Economic Research, Inc.
- Jordi Galí, 2008. "Introduction to Monetary Policy, Inflation, and the Business Cycle: An Introduction to the New Keynesian Framework," Introductory Chapters, in: Monetary Policy, Inflation, and the Business Cycle: An Introduction to the New Keynesian Framework, Princeton University Press.
- Richard Clarida & Jordi Gali & Mark Gertler, 2001. "Optimal Monetary Policy in Open versus Closed Economies: An Integrated Approach," American Economic Review, American Economic Association, vol. 91(2), pages 248-252, May.
- Boscá, J.E. & Doménech, R. & Ferri, J. & Méndez, R. & Rubio-Ramírez, J.F., 2020.
"Financial and fiscal shocks in the great recession and recovery of the Spanish economy,"
European Economic Review, Elsevier, vol. 127(C).
- J. E. Boscá & R. Doménech & J. Ferri & R. Méndez & J. F. Rubio-Ramírez, 2018. "Financial and Fiscal Shocks in the Great Recession and Recovery of the Spanish Economy," Working Papers 2018-05, FEDEA.
- Nicoletta Batini & Andrew Haldane, 1999.
"Forward-Looking Rules for Monetary Policy,"
NBER Chapters, in: Monetary Policy Rules, pages 157-202,
National Bureau of Economic Research, Inc.
- Andrew G. Haldane & Nicoletta Batini, 1998. "Forward-Looking Rules for Monetary Policy," NBER Working Papers 6543, National Bureau of Economic Research, Inc.
- Nicoletta Batini & Andrew G Haldane, 1999. "Forward-looking rules for monetary policy," Bank of England working papers 91, Bank of England.
- Blanchard, Olivier Jean & Kahn, Charles M, 1980. "The Solution of Linear Difference Models under Rational Expectations," Econometrica, Econometric Society, vol. 48(5), pages 1305-1311, July.
- Dittmar, Robert D. & Gavin, William T., 2005.
"Inflation-targeting, price-path targeting and indeterminacy,"
Economics Letters, Elsevier, vol. 88(3), pages 336-342, September.
- Robert Dittmar & William T. Gavin, 2004. "Inflation-targeting, price-path targeting and indeterminacy," Working Papers 2004-007, Federal Reserve Bank of St. Louis.
- John B. Taylor, 1999.
"A Historical Analysis of Monetary Policy Rules,"
NBER Chapters, in: Monetary Policy Rules, pages 319-348,
National Bureau of Economic Research, Inc.
- John B. Taylor, 1998. "An Historical Analysis of Monetary Policy Rules," NBER Working Papers 6768, National Bureau of Economic Research, Inc.
- Yasuo Hirose & Takushi Kurozumi & Willem Van Zandweghe, 2020.
"Monetary Policy and Macroeconomic Stability Revisited,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 255-274, July.
- Yasuo Hirose & Takushi Kurozumi & Willem Van Zandweghe, 2017. "Monetary Policy and Macroeconomic Stability Revisited," Research Working Paper RWP 17-1, Federal Reserve Bank of Kansas City.
- Yasuo Hirose & Takushi Kurozumi & Willem Van Zandweghe, 2018. "Monetary Policy and Macroeconomic Stability Revisited," 2018 Meeting Papers 219, Society for Economic Dynamics.
- Yasuo Hirose & Takushi Kurozumi & Willem Van Zandweghe, 2020. "Monetary Policy and Macroeconomic Stability Revisited," Bank of Japan Working Paper Series 20-E-2, Bank of Japan.
- Yasuo Hirose & Takushi Kurozumi & Willem Van Zandweghe, 2019. "Monetary Policy and Macroeconomic Stability Revisited," Working Papers 19-14, Federal Reserve Bank of Cleveland.
- Yasuo Hirose & Takushi Kurozumi & Willem Van Zandweghe, 2020. "Code and data files for "Monetary Policy and Macroeconomic Stability Revisited"," Computer Codes 19-271, Review of Economic Dynamics.
- Richard T. Froyen & Alfred V. Guender, 2017.
"What to Aim for? The Choice of an Inflation Objective when Openness Matters,"
Open Economies Review, Springer, vol. 28(1), pages 167-190, February.
- Richard T. Froyen & Alfred V Guender, 2016. "What to Aim for? The Choice of an Inflation Objective When Openness Matters," Working Papers in Economics 16/09, University of Canterbury, Department of Economics and Finance.
- Rudebusch, Glenn D, 2005.
"Assessing the Lucas Critique in Monetary Policy Models,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 37(2), pages 245-272, April.
- Glenn D. Rudebusch, 2002. "Assessing the Lucas critique in monetary policy models," Working Paper Series 2002-02, Federal Reserve Bank of San Francisco.
- Bernanke, Ben S & Woodford, Michael, 1997.
"Inflation Forecasts and Monetary Policy,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 29(4), pages 653-684, November.
- Ben S. Bernanke & Michael Woodford, 1997. "Inflation forecasts and monetary policy," Proceedings, Federal Reserve Bank of Cleveland, pages 653-686.
- Ben S. Bernanke & Michael Woodford, 1997. "Inflation Forecasts and Monetary Policy," NBER Working Papers 6157, National Bureau of Economic Research, Inc.
- Fanelli, Luca, 2012.
"Determinacy, indeterminacy and dynamic misspecification in linear rational expectations models,"
Journal of Econometrics, Elsevier, vol. 170(1), pages 153-163.
- Luca Fanelli, 2010. "Determinacy, indeterminacy and dynamic misspecification in linear rational expectations models," Quaderni di Dipartimento 4, Department of Statistics, University of Bologna.
- John B. Taylor, 2001. "The Role of the Exchange Rate in Monetary-Policy Rules," American Economic Review, American Economic Association, vol. 91(2), pages 263-267, May.
- Barnett, William A. & Duzhak, Evgeniya Aleksandrovna, 2008.
"Non-robust dynamic inferences from macroeconometric models: Bifurcation stratification of confidence regions,"
Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 387(15), pages 3817-3825.
- William Barnett & Evgeniya Aleksandrovna Duzhak, 2006. "Non-Robust Dynamic Inferences from Macroeconometric Models: Bifurcation Stratification of Confidence Regions," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 200608, University of Kansas, Department of Economics.
- Barnett, William A. & Duzhak, Evgeniya, 2006. "Non-Robust Dynamic Inferences from Macroeconometric Models: Bifurcation Stratification of Confidence Regions," MPRA Paper 402, University Library of Munich, Germany.
- Barnett, William A. & Duzhak, Evgeniya A., 2007. "Non-Robust Dynamic Inferences from Macroeconometric Models: Bifurcation Stratification of Confidence Regions," MPRA Paper 6005, University Library of Munich, Germany.
- Calvo, Guillermo A., 1983. "Staggered prices in a utility-maximizing framework," Journal of Monetary Economics, Elsevier, vol. 12(3), pages 383-398, September.
- Gerko Elena & Sossounov Kirill, 2015.
"Trend inflation and monetary policy rules: determinacy analysis in New Keynesian model with capital accumulation,"
The B.E. Journal of Macroeconomics, De Gruyter, vol. 15(1), pages 413-441, January.
- Elena, Gerko & Kirill, Sossounov, 2011. "Trend inflation and Monetary policy rules: Determinacy analyses in New Keynesian model with capital accumulation," MPRA Paper 30551, University Library of Munich, Germany.
- McCallum, Bennett T., 1999.
"Issues in the design of monetary policy rules,"
Handbook of Macroeconomics, in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 23, pages 1483-1530,
Elsevier.
- Bennett T. McCallum, 1997. "Issues in the Design of Monetary Policy Rules," NBER Working Papers 6016, National Bureau of Economic Research, Inc.
- S Borağan Aruoba & Pablo Cuba-Borda & Frank Schorfheide, 2018.
"Macroeconomic Dynamics Near the ZLB: A Tale of Two Countries,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 85(1), pages 87-118.
- S. BoraÄŸan Aruoba & Pablo Cuba-Borda & Frank Schorfheide, 2012. "Macroeconomic Dynamics Near the ZLB: A Tale of Two Countries," PIER Working Paper Archive 14-035, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 19 Jun 2014.
- S. Borağan Aruoba & Pablo Cuba-Borda & Frank Schorfheide, 2013. "Macroeconomic Dynamics Near the ZLB: A Tale of Two Countries," NBER Working Papers 19248, National Bureau of Economic Research, Inc.
- S. Boragan Aruoba & Pablo A. Cuba-Borda & Frank Schorfheide, 2016. "Macroeconomic Dynamics Near the ZLB : A Tale of Two Countries," International Finance Discussion Papers 1163, Board of Governors of the Federal Reserve System (U.S.).
- English William B. & Nelson William R. & Sack Brian P., 2003. "Interpreting the Significance of the Lagged Interest Rate in Estimated Monetary Policy Rules," The B.E. Journal of Macroeconomics, De Gruyter, vol. 3(1), pages 1-18, April.
- Carlstrom, Charles T. & Fuerst, Timothy S., 2005.
"Investment and interest rate policy: a discrete time analysis,"
Journal of Economic Theory, Elsevier, vol. 123(1), pages 4-20, July.
- Charles T. Carlstrom & Timothy S. Fuerst, 2003. "Investment and interest rate policy: a discrete time analysis," Working Papers (Old Series) 0320, Federal Reserve Bank of Cleveland.
- Taylor, John B. (ed.), 2001. "Monetary Policy Rules," National Bureau of Economic Research Books, University of Chicago Press, edition 1, number 9780226791258.
- Barnett, William A. & Eryilmaz, Unal, 2016.
"An Analytical And Numerical Search For Bifurcations In Open Economy New Keynesian Models,"
Macroeconomic Dynamics, Cambridge University Press, vol. 20(2), pages 482-503, March.
- Barnett, William & Eryilmaz, Unal, 2012. "An analytical and numerical search for bifurcations in open economy New Keynesian models," MPRA Paper 40426, University Library of Munich, Germany.
- William Barnett & Unal Eryilmaz, 2012. "An Analytical and Numerical Search for Bifurcations in Open Economy New Keynesian Models," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 201210, University of Kansas, Department of Economics, revised Aug 2012.
- repec:rdg:wpaper:em-dp2007-46 is not listed on IDEAS
- Cochrane, John H., 2009.
"Can learnability save new-Keynesian models?,"
Journal of Monetary Economics, Elsevier, vol. 56(8), pages 1109-1113, November.
- John H. Cochrane, 2009. "Can Learnability Save New-Keynesian Models?," NBER Working Papers 15459, National Bureau of Economic Research, Inc.
- Stephanie Schmitt-Grohe & Jess Benhabib & Martin Uribe, 2001.
"Monetary Policy and Multiple Equilibria,"
American Economic Review, American Economic Association, vol. 91(1), pages 167-186, March.
- Jess Benhabib & Stephanie Schmitt-Grohe & Martin Uribe, 1998. "Monetary policy and multiple equilibria," Finance and Economics Discussion Series 1998-29, Board of Governors of the Federal Reserve System (U.S.).
- Jess Benhabib & Stephanie Schmitt-Grohe & Martin Uribe, 1999. "Monetary Policy and Multiple Equilibria," Departmental Working Papers 199914, Rutgers University, Department of Economics.
- Benhabib, Jess & Schmitt-Grohé, Stephanie & Uribe, Martín, 1999. "Monetary Policy and Multiple Equilibria," CEPR Discussion Papers 2316, C.E.P.R. Discussion Papers.
- Benhabib, J. & Schmitt-Grohe, S. & Uribe, M., 1998. "Monetary Policy and Multiple Equilibria," Working Papers 98-02, C.V. Starr Center for Applied Economics, New York University.
- Eric Schaling & James Bullard, 2005.
"Monetary Policy, Determinacy, and Learnability in the Open Economy,"
Computing in Economics and Finance 2005
362, Society for Computational Economics.
- Bullard, James & Schaling, Eric, 2006. "Monetary policy, determinacy, and learnability in the open economy," Working Paper Series 611, European Central Bank.
- Steve Ambler & Jean-Paul Lam, 2015. "Inflation Targeting, Price-Level Targeting, the Zero Lower Bound, and Indeterminacy," Working Paper series 15-03, Rimini Centre for Economic Analysis.
- George W. Evans, 2001.
"Expectations in Macroeconomics. Adaptive versus Eductive Learning,"
Revue Économique, Programme National Persée, vol. 52(3), pages 573-582.
- George William Evans, 2001. "Expectations in Macroeconomics Adaptive versus Eductive Learning," Revue économique, Presses de Sciences-Po, vol. 52(3), pages 573-582.
- William Barnett & Evgeniya Duzhak, 2010.
"Empirical assessment of bifurcation regions within New Keynesian models,"
Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 45(1), pages 99-128, October.
- Barnett, William A. & Duzhak, Evgeniya A., 2008. "Empirical assessment of bifurcation regions within new Keynesian models," MPRA Paper 11249, University Library of Munich, Germany.
- William Barnett & Evgeniya Aleksandrovna Duzhak, 2008. "Empirical Assessment of Bifurcation Regions within New Keynesian Models," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 200811, University of Kansas, Department of Economics, revised Oct 2008.
- Dupor, Bill, 2001.
"Investment and Interest Rate Policy,"
Journal of Economic Theory, Elsevier, vol. 98(1), pages 85-113, May.
- Bill Dupor, 2000. "Investment and Interest Rate Policy," Econometric Society World Congress 2000 Contributed Papers 0007, Econometric Society.
- Jordi Galí & Tommaso Monacelli, 2005.
"Monetary Policy and Exchange Rate Volatility in a Small Open Economy,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 72(3), pages 707-734.
- GalÃ, Jordi & Monacelli, Tommas, 2002. "Monetary Policy and Exchange Rate Volatility in a Small Open Economy," CEPR Discussion Papers 3346, C.E.P.R. Discussion Papers.
- Jordi Gali & Tommaso Monacelli, 2002. "Monetary Policy and Exchange Rate Volatility in a Small Open Economy," NBER Working Papers 8905, National Bureau of Economic Research, Inc.
- Jordi Galí & Tommaso Monacelli, 2003. "Monetary Policy and Exchange Rate Volatility in a Small Open Economy," Working Papers 11, Barcelona School of Economics.
- Jordi Galí & Tommaso Monacelli, 2004. "Monetary policy and exchange rate volatility in a small open economy," Economics Working Papers 835, Department of Economics and Business, Universitat Pompeu Fabra.
- Carlstrom, Charles T. & Fuerst, Timothy S., 2006.
"Oil Prices, Monetary Policy, and Counterfactual Experiments,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 38(7), pages 1945-1958, October.
- Charles T. Carlstrom & Timothy S. Fuerst, 2005. "Oil prices, monetary policy, and counterfactual experiments," Working Papers (Old Series) 0510, Federal Reserve Bank of Cleveland.
- Hyuk Rhee & Nurlan Turdaliev, 2012. "Targeting Rules for an Open Economy," Open Economies Review, Springer, vol. 23(3), pages 447-471, July.
- Andreas Beyer & Roger E. A. Farmer, 2007. "Testing for Indeterminacy: An Application to U.S. Monetary Policy: Comment," American Economic Review, American Economic Association, vol. 97(1), pages 524-529, March.
- Laurence M. Ball, 1999.
"Policy Rules for Open Economies,"
NBER Chapters, in: Monetary Policy Rules, pages 127-156,
National Bureau of Economic Research, Inc.
- Laurence Ball, 1998. "Policy Rules for Open Economies," RBA Research Discussion Papers rdp9806, Reserve Bank of Australia.
- Laurence Ball, 1998. "Policy Rules for Open Economies," NBER Working Papers 6760, National Bureau of Economic Research, Inc.
- Mewael F. Tesfaselassie & Eric Schaling, 2016.
"On Determinacy and Learnability in a New Keynesian Model with Unemployment,"
South African Journal of Economics, Economic Society of South Africa, vol. 84(4), pages 607-623, December.
- Tesfaselassie, Mewael F. & Schaling, Eric, 2009. "On determinacy and learnability in a New Keynesian model with unemployment," Kiel Working Papers 1506, Kiel Institute for the World Economy (IfW Kiel).
- Alexander Mihailov & Fabio Rumler & Johann Scharler, 2011.
"The Small Open-Economy New Keynesian Phillips Curve: Empirical Evidence and Implied Inflation Dynamics,"
Open Economies Review, Springer, vol. 22(2), pages 317-337, April.
- Alexander Mihailov & Fabio Rumler & Johann Scharler, 2008. "The Small Open-Economy New Keynesian Phillips Curve: Empirical Evidence and Implied Inflation Dynamics," Economics working papers 2008-17, Department of Economics, Johannes Kepler University Linz, Austria.
- Alexander Mihailov & Fabio Rumler & Johann Scharler, 2008. "The Small Open-Economy New Keynesian Phillips Curve: Empirical Evidence and Implied Inflation Dynamics," Economics Discussion Papers em-dp2008-63, Department of Economics, University of Reading.
- Luis-Gonzalo Llosa & Vicente Tuesta, 2008.
"Determinacy and Learnability of Monetary Policy Rules in Small Open Economies,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(5), pages 1033-1063, August.
- Luis‐Gonzalo Llosa & Vicente Tuesta, 2008. "Determinacy and Learnability of Monetary Policy Rules in Small Open Economies," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(5), pages 1033-1063, August.
- Luis Gonzalo Llosa & Vicente Tuesta, 2006. "Determinacy and Learnability of Monetary Policy Rules in Small Open Economies," Research Department Publications 4479, Inter-American Development Bank, Research Department.
- Tuesta, Vicente & Llosa, Gonzalo, 2006. "Determinacy and Learnability of Monetary Policy Rules in Small Open Economies," IDB Publications (Working Papers) 1944, Inter-American Development Bank.
- Branch, William A. & McGough, Bruce, 2009. "A New Keynesian model with heterogeneous expectations," Journal of Economic Dynamics and Control, Elsevier, vol. 33(5), pages 1036-1051, May.
- Peter Bofinger & Eric Mayer, 2006.
"The Svensson versus McCallum and Nelson Controversy Revisited in the BMW Framework,"
Discussion Papers of DIW Berlin
585, DIW Berlin, German Institute for Economic Research.
- Bofinger, Peter & Mayer, Eric, 2006. "The Svensson versus McCallum and Nelson Controversy Revisited in the BMW Framework," W.E.P. - Würzburg Economic Papers 67, University of Würzburg, Department of Economics.
- Michael Woodford, 2001. "The Taylor Rule and Optimal Monetary Policy," American Economic Review, American Economic Association, vol. 91(2), pages 232-237, May.
- Sack, Brian, 2000. "Does the fed act gradually? A VAR analysis," Journal of Monetary Economics, Elsevier, vol. 46(1), pages 229-256, August.
- Alan S. Blinder, 2000.
"Central-Bank Credibility: Why Do We Care? How Do We Build It?,"
American Economic Review, American Economic Association, vol. 90(5), pages 1421-1431, December.
- Alan S. Blinder, 1999. "Central Bank Credibility: Why Do We Care? How Do We Build It?," NBER Working Papers 7161, National Bureau of Economic Research, Inc.
- Alfred Guender, 2005. "On Optimal Monetary Policy Rules and the Construction of MCIs in the Open Economy," Open Economies Review, Springer, vol. 16(2), pages 189-207, April.
- Richard Clarida & Jordi Gali & Mark Gertler, 2001. "Optimal Monetary Policy in Closed versus Open Economies: An Integrated Approach," NBER Working Papers 8604, National Bureau of Economic Research, Inc.
- John B. Taylor, 1999. "Monetary Policy Rules," NBER Books, National Bureau of Economic Research, Inc, number tayl99-1.
- Michael Woodford, 1994. "Nonstandard Indicators for Monetary Policy: Can Their Usefulness Be Judged from Forecasting Regressions?," NBER Chapters, in: Monetary Policy, pages 95-115, National Bureau of Economic Research, Inc.
- De Fiore, Fiorella & Liu, Zheng, 2005. "Does trade openness matter for aggregate instability?," Journal of Economic Dynamics and Control, Elsevier, vol. 29(7), pages 1165-1192, July.
- Taylor, John B., 1993. "Discretion versus policy rules in practice," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 39(1), pages 195-214, December.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- William A. Barnett & Unal Eryilmaz, 2022.
"Monetary Policy and Determinacy: An Inquiry in Open Economy New Keynesian Framework,"
WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS
202203, University of Kansas, Department of Economics.
- Barnett, William A. & Eryilmaz, Unal, 2022. "Monetary Policy and Determinacy: An Inquiry in Open Economy New Keynesian Framework," MPRA Paper 111567, University Library of Munich, Germany.
- Stephen McKnight, 2011.
"Investment and interest rate policy in the open economy,"
Oxford Economic Papers, Oxford University Press, vol. 63(4), pages 673-699, December.
- Stephen McKnight, 2007. "Investment and Interest Rate Policy in the Open Economy," Economic Analysis Research Group Working Papers earg-wp2007-11, Henley Business School, University of Reading.
- Stephen McKnight, 2007. "Investment and Interest Rate Policy in the Open Economy," Economics Discussion Papers em-dp2007-51, Department of Economics, University of Reading.
- Stephen McKnight, 2011. "Investment and interest rate policy in the open economy," Serie documentos de trabajo del Centro de Estudios Económicos 2011-02, El Colegio de México, Centro de Estudios Económicos.
- Bask, Mikael, 2009.
"Instrument rules in monetary policy under heterogeneity in currency trade,"
Journal of Economics and Business, Elsevier, vol. 61(2), pages 97-111.
- Bask, Mikael, 2007. "Instrument rules in monetary policy under heterogeneity in currency trade," Bank of Finland Research Discussion Papers 22/2007, Bank of Finland.
- Michael Paetz, 2007. "Robust Control and Persistence in the New Keynesian Economy," Quantitative Macroeconomics Working Papers 20711, Hamburg University, Department of Economics.
- Jordi Galí & J. David López-Salido, 2003.
"Rule-of-Thumb Consumers and the Design of Interest Rate Rules,"
Working Papers
104, Barcelona School of Economics.
- GalÃ, Jordi & Vallés Liberal, Javier & López-Salido, J David, 2004. "Rule-of-Thumb Consumers and the Design of Interest Rate Rules," CEPR Discussion Papers 4347, C.E.P.R. Discussion Papers.
- Jordi Gali & J. David Lopez-Salido & Javier Valles, 2004. "Rule-of-Thumb Consumers and the Design of Interest Rate Rules," NBER Working Papers 10392, National Bureau of Economic Research, Inc.
- Jordi Galí & J. David López Salido & Javier Vallés, 2003. "Rule-of-thumb consumers and the design of interest rate rules," Working Papers 0320, Banco de España.
- Caglayan, Mustafa & Jehan, Zainab & Mouratidis, Kostas, 2012. "Asymmetric monetary policy rules for open economies: Evidence from four countries," MPRA Paper 37401, University Library of Munich, Germany.
- Batini, Nicoletta & Harrison, Richard & Millard, Stephen P., 2003.
"Monetary policy rules for an open economy,"
Journal of Economic Dynamics and Control, Elsevier, vol. 27(11-12), pages 2059-2094, September.
- Nicoletta Batini & Richard Harrison & Stephen Millard, 2001. "Monetary policy rules for an open economy," Proceedings, Federal Reserve Bank of San Francisco, issue Mar.
- Batini, Nicoletta & Harrison, Richard & Millard, Stephen P., 2003. "Monetary policy rules for an open economy," Journal of Economic Dynamics and Control, Elsevier, vol. 27(11), pages 2059-2094.
- Nicoletta Batini & Stephen P. Millard & Richard Harrison, 2000. "Monetary Policy Rules For An Open Economy," Computing in Economics and Finance 2000 361, Society for Computational Economics.
- Nicoletta Batini & Richard Harrison & Stephen P Millard, 2001. "Monetary policy rules for an open economy," Bank of England working papers 149, Bank of England.
- George W. Evans & Seppo Honkapohja, 2009.
"Expectations, Learning and Monetary Policy: An Overview of Recent Research,"
Central Banking, Analysis, and Economic Policies Book Series, in: Klaus Schmidt-Hebbel & Carl E. Walsh & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series (ed.),Monetary Policy under Uncertainty and Learning, edition 1, volume 13, chapter 2, pages 027-076,
Central Bank of Chile.
- Evans, George W. & Honkapohja, Seppo, 2007. "Expectations, learning and monetary policy: an overview of recent research," Bank of Finland Research Discussion Papers 32/2007, Bank of Finland.
- George W. Evans & Seppo Honkapohja, 2008. "Expectations, Learning, And Monetary Policy: An Overview Of Recent Research," Working Papers Central Bank of Chile 501, Central Bank of Chile.
- Honkapohja, Seppo & Evans, George W., 2008. "Expectations, Learning and Monetary Policy: An Overview of Recent Rersearch," CEPR Discussion Papers 6640, C.E.P.R. Discussion Papers.
- Evans, George & Honkapohja, Seppo, 2008. "Expectations, Learning and Monetary Policy: An Overview of Recent Research," SIRE Discussion Papers 2008-03, Scottish Institute for Research in Economics (SIRE).
- Bask, Mikael, 2009.
"Instrument rules in monetary policy under heterogeneity in currency trade,"
Journal of Economics and Business, Elsevier, vol. 61(2), pages 97-111.
- Bask, Mikael, 2007. "Instrument rules in monetary policy under heterogeneity in currency trade," Research Discussion Papers 22/2007, Bank of Finland.
- Sergio Ocampo Diaz, 2013.
"Rule-of-Thumb Consumers, Nominal Rigidities and the Design of Interest Rate Rules,"
Research Department Publications
IDB-WP-400, Inter-American Development Bank, Research Department.
- Ocampo Díaz, Sergio, 2013. "Rule-of-Thumb Consumers, Nominal Rigidities and the Design of Interest Rate Rules," IDB Publications (Working Papers) 4627, Inter-American Development Bank.
- Gießler, Stefan, 2020. "The evolution of monetary policy in Latin American economies: Responsiveness to inflation under different degrees of credibility," IWH Discussion Papers 9/2020, Halle Institute for Economic Research (IWH).
- Luis-Felipe Zanna & Marco Airaudo, 2005. "Learning about which measure of inflation to target," Computing in Economics and Finance 2005 176, Society for Computational Economics.
- Stephen McKnight & Alexander Mihailov, 2015.
"Do Real Balance Effects Invalidate the Taylor Principle in Closed and Open Economies?,"
Economica, London School of Economics and Political Science, vol. 82(328), pages 938-975, October.
- Stephen McKnight & Alexander Mihailov, 2012. "Do real balance effects invalidate the Taylor principle in closed and open economies?," Serie documentos de trabajo del Centro de Estudios Económicos 2012-10, El Colegio de México, Centro de Estudios Económicos.
- repec:zbw:bofrdp:2007_022 is not listed on IDEAS
- Luis-Felipe Zanna, 2003. "Interest rate rules and multiple equilibria in the small open economy," International Finance Discussion Papers 785, Board of Governors of the Federal Reserve System (U.S.).
- Jensen Henrik, 2011.
"Estimated Interest Rate Rules: Do they Determine Determinacy Properties?,"
The B.E. Journal of Macroeconomics, De Gruyter, vol. 11(1), pages 1-22, May.
- Jensen, Henrik, 2009. "Estimated Interest Rate Rules: Do they Determine Determinacy Properties?," CEPR Discussion Papers 7555, C.E.P.R. Discussion Papers.
- John Duffy & Wei Xiao, 2011.
"Investment and Monetary Policy: Learning and Determinacy of Equilibrium,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(5), pages 959-992, August.
- John Duffy & Wei Xiao, 2011. "Investment and Monetary Policy: Learning and Determinacy of Equilibrium," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(5), pages 959-992, August.
- Sofia Bauducco & Rodrigo Caputo, 2020. "Wicksellian Rules and the Taylor Principle: Some Practical Implications," Scandinavian Journal of Economics, Wiley Blackwell, vol. 122(1), pages 340-368, January.
- Nicoletta Batini & Joseph Pearlman, 2002.
"Too Much Too Soon: Instability and Indeterminacy with Forward-Looking Rules,"
Discussion Papers
08, Monetary Policy Committee Unit, Bank of England.
- Nicoletta Batini & Joe Pearlman, 2002. "Too Much Too Soon: Instability and Indeterminacy with Forward-Looking Rules," Computing in Economics and Finance 2002 182, Society for Computational Economics.
- Ludger Linnemann & Andreas Schabert, 2006. "Monetary Policy and the Taylor Principle in Open Economies," International Finance, Wiley Blackwell, vol. 9(3), pages 343-367, December.
- Barnett, William A. & Chen, Guo, 2015.
"Bifurcation of Macroeconometric Models and Robustness of Dynamical Inferences,"
Foundations and Trends(R) in Econometrics, now publishers, vol. 8(1-2), pages 1-144, September.
- Barnett, William & Chen, Guo, 2015. "Bifurcation of Macroeconometric Models and Robustness of Dynamical Inferences," Studies in Applied Economics 32, The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise.
- William A. Barnett & Guo Chen, 2015. "Bifurcation of Macroeconometric Models and Robustness of Dynamical Inferences," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 201411, University of Kansas, Department of Economics, revised Apr 2015.
- William, Barnett & Guo, Chen, 2015. "Bifurcation of macroeconometric models and robustness of dynamical inferences," MPRA Paper 63772, University Library of Munich, Germany.
More about this item
Keywords
Bifurcation; Determinacy; Dynamic systems; New Keynesian; Stability; Open economy; Taylor Principle;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:openec:v:34:y:2023:i:2:d:10.1007_s11079-022-09702-5. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.