MONETARY POLICY REGIME SWITCHES AND MACROECONOMIC DYNAMICS

This article considers the determinacy and distributional consequences of regime switching in monetary policy. Although switching in the inflation target does not affect determinacy, switches in the inflation response can cause indeterminacy. Satisfying the Taylor principle period by period is neith...

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Veröffentlicht in:	International economic review (Philadelphia) 2016-02, Vol.57 (1), p.211-230
1. Verfasser:	Foerster, Andrew T.
Format:	Artikel
Sprache:	eng
Schlagworte:	Determinacy Economic inflation Economic models Explosives Inflation Inflation rates Interest rates Macroeconomics Monetary policy Output gaps Steady state economies Studies Volatility
Online-Zugang:	Volltext
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