Learning and the central bank

被引：15

作者：

Carlstrom, CT

Fuerst, TS

机构：

[1] Fed Reserve Bank Cleveland, Res Dept, Cleveland, OH 44101 USA

[2] Bowling Green State Univ, Bowling Green, OH 43403 USA

来源：

JOURNAL OF MONETARY ECONOMICS | 2004年 / 51卷 / 02期

关键词：

real indeterminacy; monetary models; E-stability;

D O I：

10.1016/j.jmoneco.2003.05.003

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

It is well known that sunspot equilibria may arise under an interest rate operating procedure in which the central bank varies the nominal rate with movements in future inflation (a forward-looking Taylor rule). This paper demonstrates that these sunspot equilibria may be learnable in the sense of E-stability. (C) 2003 Published by Elsevier B.V.

引用

页码：327 / 338

页数：12

共 16 条

[1] Monetary policy and multiple equilibria [J].