The long-run Taylor principle revisited

DOI10.1016/J.ECONLET.2017.09.010zbMATH Open1396.91528OpenAlexW2757557210MaRDI QIDQ1786767FDOQ1786767

Authors: Fumio Hayashi 

Publication date: 25 September 2018

Published in: Economics Letters (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.econlet.2017.09.010

Recommendations

• Monetary policy switching and indeterminacy
• The Taylor principle fights back. II
• Endogenous growth and the Taylor principle
• E-stability vis-à-vis determinacy in regime-switching models
• Understanding Markov-switching rational expectations models

zbMATH Keywords

determinacy of equilibriumlong-run Taylor principleMarkov-switching rational expectations models

Mathematics Subject Classification ID

Applications of Markov chains and discrete-time Markov processes on general state spaces (social mobility, learning theory, industrial processes, etc.) (60J20) Macroeconomic theory (monetary models, models of taxation) (91B64)

Cites Work

• Solving linear rational expectations models
• The Solution of Linear Difference Models under Rational Expectations
• Using the generalized Schur form to solve a multivariate linear rational expectations model
• Understanding Markov-switching rational expectations models

Cited In (6)

• Monetary policy switching and indeterminacy
• Taking Marshallian long-period equilibrium seriously
• Understanding Markov-switching rational expectations models
• Long-run invariance in economic dynamics: a note
• Endogenous growth and the Taylor principle
• E-stability vis-à-vis determinacy in regime-switching models

Uses Software

• Gensys

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