Monetary Policy in a New Keynesian Model with Endogenous Growth

Arbeitspapier

We study monetary policy in a New Keynesian (NK) model with endogenous growth and knowledge spillovers external to each firm. We find the following results: (i) technology and government spending shocks have different effects on growth; (ii) disinflationary monetary policies entail positive effects on growth; (iii) the optimal long-run inflation rate is zero; (iv) the Ramsey dynamics implies deviation from full inflation targeting in response to technology and government spending shocks; (v) the optimal operational rule is backward looking and responds to inflation and output deviations from their long-run levels.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Quaderni di Dipartimento ; No. 167

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Business Fluctuations; Cycles ; Monetary Policy ; Monetary Growth Models
• Thema: Monetary Policy ; Endogenous Growth ; Disinflation ; Ramsey Problem ; Optimal Simple Rules

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Annicchiarico, Barbara ; Rossi, Lorenza
• Ereignis: Veröffentlichung
• (wer): Università degli Studi di Pavia, Dipartimento di Economia Politica e Metodi Quantitativi (EPMQ)
• (wo): Pavia
• (wann): 2012

Weitere Informationen

• Handle: http://hdl.handle.net/10419/95339
• Letzte Aktualisierung: 10.03.2025, 11:42 MEZ