Real Wage Rigidity and the Taylor Principle
This paper investigates conditions for equilibrium determinacy in the basic new Keynesian model with real wage rigidity. The determinacy region is increased under forward-looking rules and the Taylor principle continues to ensure equilibrium uniqueness under current-looking rules.
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| Date of creation: | Oct 2008 |
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| Handle: | RePEc:ibm:ibmecp:wpe_112 |
| Contact details of provider: | Postal: Fax: +55+11+287-9076 Web page: http://www.insper.edu.br/ More information through EDIRC
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References listed on IDEAS
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- Xiao, Wei, 2005.
"Increasing Returns and the Design of Interest Rate Rules,"
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2005-08, University of New Orleans, Department of Economics and Finance.
- Xiao, Wei, 2008. "Increasing Returns And The Design Of Interest Rate Rules," Macroeconomic Dynamics, Cambridge University Press, vol. 12(01), pages 22-49, February.
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- Olivier Blanchard & Jordi Galí, 2005. "Real wage rigidities and the new Keynesian model," Economics Working Papers 912, Department of Economics and Business, Universitat Pompeu Fabra, revised Oct 2005.
- Olivier Blanchard & Jordi Gali, 2005. "Real Wage Rigidities and the New Keynesian Model," NBER Working Papers 11806, National Bureau of Economic Research, Inc.
- Olivier Blanchard & Jordi Galí, 2005. "Real Wage Rigidities and the New Keynesian Model," Working Papers 243, Barcelona Graduate School of Economics.
- Takushi Kurozumi, 2006.
"Determinacy and Expectational Stability of Equilibrium in a Monetary Sticky-Price Model with Taylor Rule,"
Bank of Japan Working Paper Series
06-E-2, Bank of Japan.
- Kurozumi, Takushi, 2006. "Determinacy and expectational stability of equilibrium in a monetary sticky-price model with Taylor rule," Journal of Monetary Economics, Elsevier, vol. 53(4), pages 827-846, May.
- Thomas Lubik & Massimiliano Marzo, 2003.
"An Inventory of Simple Monetary Policy Rules in a New Keynesian Macroeconomic Model,"
Economics Working Paper Archive
500, The Johns Hopkins University,Department of Economics.
- Lubik, Thomas A. & Marzo, Massimiliano, 2007. "An inventory of simple monetary policy rules in a New Keynesian macroeconomic model," International Review of Economics & Finance, Elsevier, vol. 16(1), pages 15-36.
- Orphanides, Athanasios, 1999.
"The Quest for Prosperity Without Inflation,"
Working Paper Series
93, Sveriges Riksbank (Central Bank of Sweden).
- Orphanides, Athanasios, 2003. "The quest for prosperity without inflation," Journal of Monetary Economics, Elsevier, vol. 50(3), pages 633-663, April.
- Orphanides, Athanasios, 2000. "The quest for prosperity without inflation," Working Paper Series 0015, European Central Bank.
- Bruckner, Matthias & Schabert, Andreas, 2003. "Supply-side effects of monetary policy and equilibrium multiplicity," Economics Letters, Elsevier, vol. 79(2), pages 205-211, May.
- De Fiore, Fiorella & Liu, Zheng, 2005. "Does trade openness matter for aggregate instability?," Journal of Economic Dynamics and Control, Elsevier, vol. 29(7), pages 1165-1192, July.
- Roisland, Oistein, 2003. "Capital income taxation, equilibrium determinacy, and the Taylor principle," Economics Letters, Elsevier, vol. 81(2), pages 147-153, November.
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