Trend Inflation, Taylor Principle and Indeterminacy

Please use this identifier to cite or link to this item: http://dspace.mediu.edu.my:8181/xmlui/handle/10419/17848

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DC Field	Value	Language
dc.creator	Ascari, Guido	-
dc.creator	Ropele, Tiziano	-
dc.date	2007	-
dc.date.accessioned	2013-10-16T06:57:04Z	-
dc.date.available	2013-10-16T06:57:04Z	-
dc.date.issued	2013-10-16	-
dc.identifier	http://hdl.handle.net/10419/17848	-
dc.identifier	ppn:534868738	-
dc.identifier.uri	http://koha.mediu.edu.my:8181/xmlui/handle/10419/17848	-
dc.description	We show that low trend ination strongly a¤ects the dynamics of a standard Neo-Keynesian model where monetary policy is described by a standard Taylor rule. Moreover, trend ination enlarges the indeterminacy region in the parameter space, substantially altering the so-called Taylor principle. The main results hold for di¤erent types of Taylor rules, inertial policy rules and indexation schemes. The key message is that, whatever the set up, the literature on Taylor rules cannot disregard average ination in both theoretical and empirical analysis.	-
dc.language	eng	-
dc.publisher	Kiel Institute for the World Economy (IfW) Kiel	-
dc.relation	Kieler Arbeitspapiere 1332	-
dc.rights	http://www.econstor.eu/dspace/Nutzungsbedingungen	-
dc.subject	E52	-
dc.subject	E31	-
dc.subject	ddc:330	-
dc.subject	Sticky Prices	-
dc.subject	Taylor Rules and Trend Inflation	-
dc.subject	Preisrigidität	-
dc.subject	Inflation	-
dc.subject	Taylor-Regel	-
dc.subject	New-Keynesian Phillips Curve	-
dc.subject	Theorie	-
dc.title	Trend Inflation, Taylor Principle and Indeterminacy	-
dc.type	doc-type:workingPaper	-
Appears in Collections:	EconStor

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