The Macroeconomic Effects of Unstable Monetary Policy Objectives
Policymakers take into account the possibility of a regime switch and counteract the externalities generated by the alternative regimes. The resulting behavior of inflation and output differs, both qualitatively and quantitatively, from what obtained in regime switches models with simple policy rules. From an empirical point of view, modeling the policymakers' decision process imposes additional restrictions, not necessarily satisifed by models with simple policy rules. Some positive and normative implications of policy regime switches are then revisited.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
|Date of creation:||2010|
|Contact details of provider:|| Postal: Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA|
Web page: http://www.EconomicDynamics.org/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:red:sed010:1271. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christian Zimmermann)
If references are entirely missing, you can add them using this form.