Interest-rate rules in a new Keynesian framework with investment / Elena Pavlova. [recurso electrónico]
Tipo de material: TextoSeries Schriften zur Wirtschaftstheorie und Wirtschaftspolitik ; Bd. 44Detalles de publicación: Frankfurt am Main : Peter Lang, c2011Descripción: 1 recurso en línea (164 p.)ISBN:- 9783653014440
- 22 332.46
Tipo de ítem | Biblioteca actual | Signatura | Estado | Fecha de vencimiento | Código de barras |
---|---|---|---|---|---|
Libro electrónico | Biblioteca Manuel Belgrano | Recurso en línea (Navegar estantería(Abre debajo)) | Disponible |
Originally presented as the author's thesis (doctoral)--Universität der Bundeswehr, Hamburg, 2010.
Bibliografía: p. 145-158.
I. Introduction -- II. Monetary policy design and criteria for assessing monetary policy rules -- 1. Monetary policy issues.1.1. The case for rules rather than discretion. 1.1.1. Analytical distinction between rules and discretion. 1.1.2. The problem of dynamic inconsistency. 1.1.3. Advantages of central bank commitment to a monetary policy rule. 1.2. Design of monetary policy rules. 1.2.1. Rules, instruments and targets. 1.2.2. Choice of instruments. 1.2.3. Choice of target variables -- 2. Criteria for assessing monetary policy rules. 2.1. Operationality/Simplicity. 2.2. Local determinacy of rational-expectations equilibrium and monetary policy analysis. 2.2.1. An overview. 2.2.2. Presenting the criterion. 2.2.3. Determinacy and reactions to shocks. 2.3. The Taylor principle -- 3. Preliminary summary. III A New Keynesian model with endogenous capital with adjustment costs -- 1. New Keynesian framework: an overview -- 2. Modelling capital and investment -- 3. The model with endogenous capital and adjustment costs.
3.1. Household utility function and optimality conditions . The "IS sector" .3.3. Capital accumulation adjustment costs. 3.4. Inflation and real wage equations under sticky prices and wages. 3.5. Interest-rate rule specifications -- 4. Determinacy analysis. 4.1. Calibration. 4.2. Determinacy and the Taylor principle: some numerical examples. 4.2.1. Active rule. 4.2.2. Passive rule. 4.2.3. Interest-rate rule response coefficient values and determinacy: a global perspective -- 5. Preliminary summary of results 79; IV. Shock impulse responses. 1. Some preliminary remarks on the adjustment mechanisms in the system 1. Monetary policy unit shock. 1.2. Technology unit shock. 1.3. Consumption preference unit shock. 2. Active rule. 2.1. The case of inflation-targeting only. 2.1.1. Monetary policy unit shock. 2.1.2. Technology unit shock. 2.1.3. Consumption preference unit shock. 2.2. The case of inflation- and output-targeting. 2.2.1. Monetary policy unit shock. 2.2.2. Technology unit shock. 2.2.3. Consumption preference unit shock. 2.3. The case of inflation- and output-targeting with interest-rate smoothing -- 3.1. Monetary policy unit shock. 2.3.2. Technology unit shock. 2.3.3. Consumption preference unit shock -- 3. Passive rule. 3.1. The case of inflation-targeting only. 3.2. The case of inflation- and output-targeting. 3.2.1. Monetary policy unit shock. 3.2.2. Technology unit shock. 3.2.3. Consumption preference unit shock. 3.3. The case of inflation- and output-targeting with interest-rate smoothing. 3.3.1. Monetary policy unit shock. 3.3.2. Technology unit shock. 3.3.3. Consumption preference unit shock.
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