Monetary Policy Rules and Business Cycles
AbstractBusiness cycle properties under different monetary policy rules are examined in a variety of dynamic stochastic general equilibrium models (the real business cycle models, the nominal wage contract models with different length of contracts, and the monopolistic competition models with different size of price adjustment costs). The experiments show that nominal and real features of business cycles are substantially different under monetary policy rules.
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Bibliographic InfoPaper provided by Banco de Espa�a in its series Banco de Espa�a Working Papers with number 9804.
Length: 51 pages
Date of creation: 1998
Date of revision:
MONETARY POLICY ; BUSINESS CYCLES ; GENERAL EQUILIBRIUM;
Other versions of this item:
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
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- Wilman Gómez & Carlos Esteban Posada, . "Un "Choque" del Activo Externo Neto y el Ciclo Económico Colombiano," Borradores de Economia 285, Banco de la Republica de Colombia.
- William T. Gavin & Benjamin D. Keen & Michael R. Pakko, 2005.
"The monetary instrument matters,"
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- Andrew Hughes Hallett & Christian Richter, 2009. "Has there been any structural convergence in the transmission of European monetary policies?," International Economics and Economic Policy, Springer, vol. 6(2), pages 85-101, July.
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