Optimal monetary policy, endogenous supply and rational expectations

In this paper we demonstrate that the choice of monetary policy regime will affect the variability of output when private agents, in forming their supply decisions, take into account the authority's selection of a policy rule. A striking feature of the analysis is that the choice between policy...

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Veröffentlicht in:	Journal of monetary economics 1984-03, Vol.13 (2), p.211-224
Hauptverfasser:	Fethke, Gary, Jackman, Richard
Format:	Artikel
Sprache:	eng
Schlagworte:	Interest rates Monetary policy Monetary theory Money supply Optimal Rational expectations Rules Supply
Online-Zugang:	Volltext
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