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Convergencia al estado estacionario, flexibilidad de precios y reglas monetarias en un modelo SN de expectativas de inflación

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  • Lizarazu Alanez, Eddy

    (Profesor e Investigador, Departamento de Economía, Universidad Autónoma Metropolitana, Iztapalapa, México, D.F.)

Abstract

We study the question of convergence to steady state in a continuous time deterministic model SN (neoclassical synthesis). The review is based on a scheme of perfect foresight for the expected inflation rate. The analysis allows us to draw two conclusions. First, the flexibility of prices is not guarantee for convergence. Secondly, if the equilibrium is stable, then a well-designed monetary rule contributes to the process of convergence. The monetary policy should seek well-defined targets, otherwise it is unsuccessful.

Suggested Citation

  • Lizarazu Alanez, Eddy, 2014. "Convergencia al estado estacionario, flexibilidad de precios y reglas monetarias en un modelo SN de expectativas de inflación," Revista Nicolaita de Estudios Económicos, Universidad Michoacana de San Nicolás de Hidalgo, Instituto de Investigaciones Económicas y Empresariales, vol. 0(1), pages 7-46.
    • Handle: RePEc:ris:rnicee:0081
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    Keywords

    Convergence; neoclassical synthesis; monetary rules; price flexibility; stability.;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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