Title of article
Determinacy, learnability, and discretionary policy
Author/Authors
Takushi Kurozumi، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2005
Pages
5
From page
181
To page
185
Abstract
Within a monetary sticky-price model, this paper shows that the optimal discretionary policy, which looks a lot like the Taylor rule, brings about determinacy and least-squares learnability of rational expectations equilibria if and only if it satisfies the long-run version of the Taylor principle
Keywords
Determinacy , Least-squares learnability , Discretionary policy , Taylor rule , E-stability
Journal title
Economics Letters
Serial Year
2005
Journal title
Economics Letters
Record number
435654
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