Buch

Interest-Rate Rules in a New Keynesian Framework with Investment

The last decades have witnessed major progress in both monetary policy theory and practice, with broad academic consensus on the desirability of monetary policy rules and ongoing research on their exact specification. Typically, the analysis is carried out in a New Keynesian framework with nominal rigidities and constant capital stock. The latter represents a constraint that this study seeks to overcome by introducing a model with investment and capital adjustment costs. The work assesses different interest-rate rule specifications with respect to the target variables included, based on two criteria: determinacy of rational-expectations equilibrium and convergence to steady state after a shock. The study concludes that rules with both an inflation and an output gap target ensure a unique rational-expectations equilibrium and a less distressful adjustment of the economy after the occurrence of shocks.

ISBN
978-3-653-01444-0

Sprache
Englisch

Erschienen in
Series: Schriften zur Wirtschaftstheorie und Wirtschaftspolitik ; No. 44

Klassifikation
Wirtschaft

Ereignis
Geistige Schöpfung
(wer)
Pavlova, Elena
Ereignis
Veröffentlichung
(wer)
Peter Lang International Academic Publishers
(wo)
Frankfurt a. M.
(wann)
2012

Handle
Letzte Aktualisierung
10.03.2025, 11:43 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Buch

Beteiligte

  • Pavlova, Elena
  • Peter Lang International Academic Publishers

Entstanden

  • 2012

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