Learning about monetary policy rules when labor market search and matching frictions matter

DOI10.1016/J.JEDC.2011.10.003MaRDI QIDQ433362zbMATH OpenOpenAlexFDO

Authors Takushi Kurozumi, Willem Van Zandweghe

Publication date 13 July 2012

Published in Journal of Economic Dynamics and Control (Search for Journal in Brave)

Full work available at URL https://www.kansascityfed.org/documents/5305/pdf-RWP10-14.pdf

zbMATH Keywords

indeterminacyE-stabilityextensive and intensive margins of laborforecast-based interest rate policylabor market search and matching frictions

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Interest rates, asset pricing, etc. (stochastic models) (91G30)

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Cites work

• E-stability vis-a-vis determinacy results for a broad class of linear rational expectations models
• Investment, interest rate policy, and equilibrium stability
• Job Creation and Job Destruction in the Theory of Unemployment
• Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory*
• Monetary policy, indeterminacy and learning
• On-the-job search, sticky prices, and persistence
• Optimal monetary policy in a New Keynesian model with job search
• Solutions to linear rational expectations models: a compact exposition

Cited in

(6)

• A New Keynesian model with staggered price and wage setting under learning
• The heterogeneous impact of monetary policy on the US labor market
• Optimal monetary policy rules with labor market frictions
• Trend inflation, sticky prices, and expectational stability
• Optimal monetary policy and downward nominal wage rigidity in frictional labor markets
• Learning about monetary policy rules when the housing market matters

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