Ramsey Monetary Policy in a New Keynesian Model with Endogenous Growth
We study Ramsey monetary policy in a New Keynesian (NK) model with endogenous growth and knowledge spillovers external to each firm. We find that in contrast with the standard NK model, the Ramsey dynamics implies deviation from full inflation targeting in response to technology and government spending shocks
|Date of creation:||13 Feb 2013|
|Date of revision:||13 Feb 2013|
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