Unconventional Policy Instruments in the New Keynesian Model

Unconventional Policy Instruments in the New Keynesian Model
This paper analyzes the use of unconventional policy instruments in New Keynesian setups in which the 'divine coincidence' breaks down. The paper discusses the role of a second instrument and its coordination with conventional interest rate policy, and presents theoretical results on equilibrium determinacy, the inflation bias, the stabilization... READ MORE...

Publication date: March 2016
ISBN 9781513573038
$18.00

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