Monetary Policy Rules in a New Keynesian Euro Area Model

The first part of this paper is devoted to describe a New Keynesian model, which, after calibration, shows a great fit on Euro area macroeconomic data. Then, the stabilizing properties of alternative monetary policy rules are evaluated for consideration of the European Central Bank (ECB). Our main f...

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Veröffentlicht in:	Journal of money, credit and banking credit and banking, 2007-06, Vol.39 (4), p.875-900
1. Verfasser:	CASARES, MIGUEL
Format:	Artikel
Sprache:	eng
Schlagworte:	Analysis Anti-inflation policy Central banks Coefficients Economic and Monetary Union Economic models Economic stabilization Euro Euro area Euro Zone European Central Bank Eurozone Inflation (Economics) Inflation (Finance) Inflation rate Inflation rates Inflation shocks instrument rules Interest rates Keynesian economics Keynesian theory Keynesianism Macroeconomics Monetary economics Monetary models Monetary policy Nominal interest rates Output gaps Spain Standard deviation Studies targeting rules Taylor rule Wage inflation
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