The Taylor principle in a medium-scale macroeconomic model

Tommy Sveen; Lutz Weinke

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The Taylor principle in a medium-scale macroeconomic model

机译：中规模宏观经济模型中的泰勒原理

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摘要

We consider a medium-scale New-Keynesian model which combines features that have been shown to explain fairly well postwar US. business cycles. Our main result demonstrates that the determinacy properties of forward-looking interest rate rules resemble, at least qualitatively, the corresponding outcomes under current-looking rules. We explain how and why the empiri-cally relevant features of our model generate this novel result.

机译：我们考虑一种中等规模的新凯恩斯主义模型，该模型结合了已被证明可以很好地解释战后美国的特征。商业周期。我们的主要结果表明，前瞻性利率规则的确定性至少在定性上类似于当前规则下的相应结果。我们解释了模型的经验相关特征如何以及为什么产生这种新颖的结果。

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来源
《Journal of Economic Dynamics and Control》 |2013年第12期|3034-3043|共10页
作者
Tommy Sveen; Lutz Weinke;
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作者单位

Department of Economics, BI Norwegian Business School, Nydaisveien 37, N-0484 Oslo, Norway;

Humboldt-Universitat zu Berlin, School of Economics and Business, Institute of Economic Policy, Spandauer Strasse 1,D-10099 Berlin, Germany;

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正文语种 eng
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关键词
Nominal rigidities; Real rigidities; Monetary policy;

机译：标称刚度;真正的刚性;货币政策;

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The Taylor principle in a medium-scale macroeconomic model

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