Arbeitspapier
Sticky information and determinacy
The infinite-dimensional sticky-information Phillips curve is cast as a finite-dimensional timevarying system of difference equations in order to directly assess determinacy in the model with demand given by the forward-looking IS equation and monetary policy by an interest rate rule. An equivalence to the model without lagged expectations holds (albeit tenuously) for the particular specification and a common truncation method produces spurious determinacy.
- Language
-
Englisch
- Bibliographic citation
-
Series: SFB 649 Discussion Paper ; No. 2011-006
- Classification
-
Wirtschaft
Existence and Stability Conditions of Equilibrium
Price Level; Inflation; Deflation
Interest Rates: Determination, Term Structure, and Effects
Monetary Policy
- Subject
-
determinacy
Taylor rule
sticky Information
time-varying difference equations
Phillips-Kurve
Unvollkommene Information
Dynamisches Gleichgewicht
Analysis
Taylor-Regel
Theorie
- Event
-
Geistige Schöpfung
- (who)
-
Meyer-Gohde, Alexander
- Event
-
Veröffentlichung
- (who)
-
Humboldt University of Berlin, Collaborative Research Center 649 - Economic Risk
- (where)
-
Berlin
- (when)
-
2011
- Handle
- Last update
-
10.03.2025, 11:41 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Meyer-Gohde, Alexander
- Humboldt University of Berlin, Collaborative Research Center 649 - Economic Risk
Time of origin
- 2011
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