Arbeitspapier
Trend growth and learning about monetary policy rules
The paper examines the effect of trend productivity growth on the determinacy and learnability of equilibria under alternative monetary policy rules. It shows that under a policy rule that responds to current period inflation and the output gap a higher trend growth rate relaxes the conditions for determinacy and learnability. Results are mixed for other policy rules. Under the expectations-based rule, trend growth reduces the scope for determinacy but it relaxes the conditions for learnability. Under the lagged-data-based rule rule trend growth reduces the scope for determinacy and learnability.
- Language
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Englisch
- Bibliographic citation
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Series: Kiel Working Paper ; No. 1744
- Classification
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Wirtschaft
- Subject
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trend growth
learning
monetary policy
determinacy
expectational stability
- Event
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Geistige Schöpfung
- (who)
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Tesfaselassie, Mewael F.
- Event
-
Veröffentlichung
- (who)
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Kiel Institute for the World Economy (IfW)
- (where)
-
Kiel
- (when)
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2011
- Handle
- Last update
-
10.03.2025, 11:43 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
- Tesfaselassie, Mewael F.
- Kiel Institute for the World Economy (IfW)
Time of origin
- 2011
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