Title of article
Monetary policy and stable indeterminacy with inertia
Author/Authors
George W. Evans، نويسنده , , Bruce McGough، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2005
Pages
7
From page
1
To page
7
Abstract
We examine existence and stability under learning of sunspot equilibria in a New Keynesian model incorporating inertia. Indeterminacy remains prevalent, stable sunspots abound, and inertia in IS and aggregate supply (AS) relations do not significantly impact the policy region containing stable sunspots.
Keywords
Sunspots , Monetary policy , Expectations , learning , stability
Journal title
Economics Letters
Serial Year
2005
Journal title
Economics Letters
Record number
435627
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