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El nivel de precios, la política monetaria y la regla de Taylor en una economía IS/LM de precios flexibles

Author

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  • Lizarazu Alanez, Eddy

    (Profesor e Investigador, Departamento de Economía de la UAM-Iztapalapa,)

Abstract

We study a flexible price IS/LM economy in which the money supply and interest rate play the role of monetary policy instruments. If the central bank sets the nominal interest rate, the ambiguity in the price level is manifested. However, the equilibrium price level is permissible, if the central bank outlines a monetary rule for the interest rate. The existence of an inflation target by the central contributes to qualify the price level.

Suggested Citation

  • Lizarazu Alanez, Eddy, 2013. "El nivel de precios, la política monetaria y la regla de Taylor en una economía IS/LM de precios flexibles," Revista Nicolaita de Estudios Económicos, Universidad Michoacana de San Nicolás de Hidalgo, Instituto de Investigaciones Económicas y Empresariales, vol. 0(2), pages 7-34.
  • Handle: RePEc:ris:rnicee:0077
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    More about this item

    Keywords

    IS-LM model; monetary policy; price level; rational expectations; Taylor rule.;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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