Real-time rational expectations and indeterminacy
Abstract
This paper uses the technique of Lubik and Schorfheide [Lubik, T., Schorfheide, F., 2004. Testing for indeterminacy: an application to U.S. monetary policy. The American Economic Review 94 (1), 190-217] to test for indeterminacy in a New Keynesian Model. Using real-time, instead of revised data on the output gap, the results suggest indeterminacy both before 1979 and after 1982.Download Info
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Bibliographic Info
Article provided by Elsevier in its journal Economics Letters.
Volume (Year): 99 (2008)
Issue (Month): 3 (June)
Pages: 530-533
Contact details of provider:
Web page: http://www.elsevier.com/locate/ecolet
Related research
Keywords:References
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