Monetary Policy, Trend Inflation and the Great Moderation: An Alternative Interpretation
收藏NBER2008-12-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w14621
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资源简介：
With positive trend inflation, the Taylor principle is not enough to guarantee a determinate equilibrium. We provide new theoretical results on restoring determinacy in New Keynesian models with positive trend inflation and combine these with new empirical findings on the Federal Reserve's reaction
提供机构：
美国国家经济研究局
创建时间：
2008-12-01
