Interest-Rate Rules in a New Keynesian Framework with Investment:
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Frankfurt
Lang, Peter, GmbH, Internationaler Verlag der Wissenschaften
2012
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| Schlagworte: | |
| Online-Zugang: | Volltext |
| Beschreibung: | 3.3.3. Consumption preference unit shock 132 Table of Contents; List of Figures and Tables 11; List of Symbols 13; I. Introduction 17; II. Monetary policy design and criteria for assessing monetary policy rules 21; 1. Monetary policy issues 21; 1.1. The case for rules rather than discretion 23; 1.1.1. Analytical distinction between rules and discretion 23; 1.1.2. The problem of dynamic inconsistency 24; 1.1.3. Advantages of central bank commitment to a monetary policy rule 25; 1.2. Design of monetary policy rules 26; 1.2.1. Rules, instruments and targets 28; 1.2.2. Choice of instruments 30; 1.2.3. Choice of target variables 31 2. Criteria for assessing monetary policy rules 372.1. Operationality/Simplicity 38; 2.2. Local determinacy of rational-expectations equilibrium and monetary policy analysis 41; 2.2.1. An overview 41; 2.2.2. Presenting the criterion 42; 2.2.3. Determinacy and reactions to shocks 43; 2.3. The Taylor principle 45; 3. Preliminary summary 49; III. A New Keynesian model with endogenous capital with adjustment costs 51; 1. New Keynesian framework: an overview 52; 2. Modelling capital and investment 55; 3. The model with endogenous capital and adjustment costs 60 3.1. Household utility function and optimality conditions 603.2. The "IS sector" 63; 3.3. Capital accumulation adjustment costs 64; 3.4. Inflation and real wage equations under sticky prices and wages 66; 3.5. Interest-rate rule specifications 67; 4. Determinacy analysis 68; 4.1. Calibration 69; 4.2. Determinacy and the Taylor principle: some numerical examples 72; 4.2.1. Active rule 74; 4.2.2. Passive rule 75; 4.2.3. Interest-rate rule response coefficient values and determinacy: a global perspective 77; 5. Preliminary summary of results 79; IV. Shock impulse responses 81 1. Some preliminary remarks on the adjustment mechanisms in the system 811.1. Monetary policy unit shock 82; 1.2. Technology unit shock 84; 1.3. Consumption preference unit shock 86; 2. Active rule 87; 2.1. The case of inflation-targeting only 87; 2.1.1. Monetary policy unit shock 88; 2.1.2. Technology unit shock 92; 2.1.3. Consumption preference unit shock 95; 2.2. The case of inflation- and output-targeting 98; 2.2.1. Monetary policy unit shock 98; 2.2.2. Technology unit shock 101; 2.2.3. Consumption preference unit shock 104 2.3. The case of inflation- and output-targeting with interest-rate smoothing 1072.3.1. Monetary policy unit shock 107; 2.3.2. Technology unit shock 110; 2.3.3. Consumption preference unit shock 113; 3. Passive rule 116; 3.1. The case of inflation-targeting only 116; 3.2. The case of inflation- and output-targeting 116; 3.2.1. Monetary policy unit shock 117; 3.2.2. Technology unit shock 120; 3.2.3. Consumption preference unit shock 123; 3.3. The case of inflation- and output-targeting with interest-rate smoothing 126; 3.3.1. Monetary policy unit shock 126; 3.3.2. Technology unit shock 129 Includes bibliographical references (pages 145-158) |
| Beschreibung: | 1 Online-Ressource (164 pages) |
| ISBN: | 9783653014440 3653014441 3631611285 |
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| 500 | |a Table of Contents; List of Figures and Tables 11; List of Symbols 13; I. Introduction 17; II. Monetary policy design and criteria for assessing monetary policy rules 21; 1. Monetary policy issues 21; 1.1. The case for rules rather than discretion 23; 1.1.1. Analytical distinction between rules and discretion 23; 1.1.2. The problem of dynamic inconsistency 24; 1.1.3. Advantages of central bank commitment to a monetary policy rule 25; 1.2. Design of monetary policy rules 26; 1.2.1. Rules, instruments and targets 28; 1.2.2. Choice of instruments 30; 1.2.3. Choice of target variables 31 | ||
| 500 | |a 2. Criteria for assessing monetary policy rules 372.1. Operationality/Simplicity 38; 2.2. Local determinacy of rational-expectations equilibrium and monetary policy analysis 41; 2.2.1. An overview 41; 2.2.2. Presenting the criterion 42; 2.2.3. Determinacy and reactions to shocks 43; 2.3. The Taylor principle 45; 3. Preliminary summary 49; III. A New Keynesian model with endogenous capital with adjustment costs 51; 1. New Keynesian framework: an overview 52; 2. Modelling capital and investment 55; 3. The model with endogenous capital and adjustment costs 60 | ||
| 500 | |a 3.1. Household utility function and optimality conditions 603.2. The "IS sector" 63; 3.3. Capital accumulation adjustment costs 64; 3.4. Inflation and real wage equations under sticky prices and wages 66; 3.5. Interest-rate rule specifications 67; 4. Determinacy analysis 68; 4.1. Calibration 69; 4.2. Determinacy and the Taylor principle: some numerical examples 72; 4.2.1. Active rule 74; 4.2.2. Passive rule 75; 4.2.3. Interest-rate rule response coefficient values and determinacy: a global perspective 77; 5. Preliminary summary of results 79; IV. Shock impulse responses 81 | ||
| 500 | |a 1. Some preliminary remarks on the adjustment mechanisms in the system 811.1. Monetary policy unit shock 82; 1.2. Technology unit shock 84; 1.3. Consumption preference unit shock 86; 2. Active rule 87; 2.1. The case of inflation-targeting only 87; 2.1.1. Monetary policy unit shock 88; 2.1.2. Technology unit shock 92; 2.1.3. Consumption preference unit shock 95; 2.2. The case of inflation- and output-targeting 98; 2.2.1. Monetary policy unit shock 98; 2.2.2. Technology unit shock 101; 2.2.3. Consumption preference unit shock 104 | ||
| 500 | |a 2.3. The case of inflation- and output-targeting with interest-rate smoothing 1072.3.1. Monetary policy unit shock 107; 2.3.2. Technology unit shock 110; 2.3.3. Consumption preference unit shock 113; 3. Passive rule 116; 3.1. The case of inflation-targeting only 116; 3.2. The case of inflation- and output-targeting 116; 3.2.1. Monetary policy unit shock 117; 3.2.2. Technology unit shock 120; 3.2.3. Consumption preference unit shock 123; 3.3. The case of inflation- and output-targeting with interest-rate smoothing 126; 3.3.1. Monetary policy unit shock 126; 3.3.2. Technology unit shock 129 | ||
| 500 | |a Includes bibliographical references (pages 145-158) | ||
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Datensatz im Suchindex
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| any_adam_object | |
| author | Pavlova, Elena |
| author_facet | Pavlova, Elena |
| author_role | aut |
| author_sort | Pavlova, Elena |
| author_variant | e p ep |
| building | Verbundindex |
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| collection | ZDB-4-EBU |
| ctrlnum | (OCoLC)817907315 (DE-599)BVBBV042961266 |
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| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.8 |
| dewey-search | 332.8 |
| dewey-sort | 3332.8 |
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| discipline | Wirtschaftswissenschaften |
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| spelling | Pavlova, Elena Verfasser aut Interest-Rate Rules in a New Keynesian Framework with Investment Frankfurt Lang, Peter, GmbH, Internationaler Verlag der Wissenschaften 2012 1 Online-Ressource (164 pages) txt rdacontent c rdamedia cr rdacarrier 3.3.3. Consumption preference unit shock 132 Table of Contents; List of Figures and Tables 11; List of Symbols 13; I. Introduction 17; II. Monetary policy design and criteria for assessing monetary policy rules 21; 1. Monetary policy issues 21; 1.1. The case for rules rather than discretion 23; 1.1.1. Analytical distinction between rules and discretion 23; 1.1.2. The problem of dynamic inconsistency 24; 1.1.3. Advantages of central bank commitment to a monetary policy rule 25; 1.2. Design of monetary policy rules 26; 1.2.1. Rules, instruments and targets 28; 1.2.2. Choice of instruments 30; 1.2.3. Choice of target variables 31 2. Criteria for assessing monetary policy rules 372.1. Operationality/Simplicity 38; 2.2. Local determinacy of rational-expectations equilibrium and monetary policy analysis 41; 2.2.1. An overview 41; 2.2.2. Presenting the criterion 42; 2.2.3. Determinacy and reactions to shocks 43; 2.3. The Taylor principle 45; 3. Preliminary summary 49; III. A New Keynesian model with endogenous capital with adjustment costs 51; 1. New Keynesian framework: an overview 52; 2. Modelling capital and investment 55; 3. The model with endogenous capital and adjustment costs 60 3.1. Household utility function and optimality conditions 603.2. The "IS sector" 63; 3.3. Capital accumulation adjustment costs 64; 3.4. Inflation and real wage equations under sticky prices and wages 66; 3.5. Interest-rate rule specifications 67; 4. Determinacy analysis 68; 4.1. Calibration 69; 4.2. Determinacy and the Taylor principle: some numerical examples 72; 4.2.1. Active rule 74; 4.2.2. Passive rule 75; 4.2.3. Interest-rate rule response coefficient values and determinacy: a global perspective 77; 5. Preliminary summary of results 79; IV. Shock impulse responses 81 1. Some preliminary remarks on the adjustment mechanisms in the system 811.1. Monetary policy unit shock 82; 1.2. Technology unit shock 84; 1.3. Consumption preference unit shock 86; 2. Active rule 87; 2.1. The case of inflation-targeting only 87; 2.1.1. Monetary policy unit shock 88; 2.1.2. Technology unit shock 92; 2.1.3. Consumption preference unit shock 95; 2.2. The case of inflation- and output-targeting 98; 2.2.1. Monetary policy unit shock 98; 2.2.2. Technology unit shock 101; 2.2.3. Consumption preference unit shock 104 2.3. The case of inflation- and output-targeting with interest-rate smoothing 1072.3.1. Monetary policy unit shock 107; 2.3.2. Technology unit shock 110; 2.3.3. Consumption preference unit shock 113; 3. Passive rule 116; 3.1. The case of inflation-targeting only 116; 3.2. The case of inflation- and output-targeting 116; 3.2.1. Monetary policy unit shock 117; 3.2.2. Technology unit shock 120; 3.2.3. Consumption preference unit shock 123; 3.3. The case of inflation- and output-targeting with interest-rate smoothing 126; 3.3.1. Monetary policy unit shock 126; 3.3.2. Technology unit shock 129 Includes bibliographical references (pages 145-158) Interest rates Keynesian economics Monetary policy BUSINESS & ECONOMICS / Money & Monetary Policy bisacsh Interest rates fast Keynesian economics fast Monetary policy fast Wirtschaft Neokeynesianismus (DE-588)4138182-8 gnd rswk-swf Geldpolitik (DE-588)4019902-2 gnd rswk-swf Zins (DE-588)4067845-3 gnd rswk-swf 1\p (DE-588)4113937-9 Hochschulschrift gnd-content Geldpolitik (DE-588)4019902-2 s Zins (DE-588)4067845-3 s Neokeynesianismus (DE-588)4138182-8 s 2\p DE-604 Erscheint auch als Druck-Ausgabe, Hardcover 978-3-631-61128-9 http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=488003 Aggregator Volltext 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 2\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | Pavlova, Elena Interest-Rate Rules in a New Keynesian Framework with Investment Interest rates Keynesian economics Monetary policy BUSINESS & ECONOMICS / Money & Monetary Policy bisacsh Interest rates fast Keynesian economics fast Monetary policy fast Wirtschaft Neokeynesianismus (DE-588)4138182-8 gnd Geldpolitik (DE-588)4019902-2 gnd Zins (DE-588)4067845-3 gnd |
| subject_GND | (DE-588)4138182-8 (DE-588)4019902-2 (DE-588)4067845-3 (DE-588)4113937-9 |
| title | Interest-Rate Rules in a New Keynesian Framework with Investment |
| title_auth | Interest-Rate Rules in a New Keynesian Framework with Investment |
| title_exact_search | Interest-Rate Rules in a New Keynesian Framework with Investment |
| title_full | Interest-Rate Rules in a New Keynesian Framework with Investment |
| title_fullStr | Interest-Rate Rules in a New Keynesian Framework with Investment |
| title_full_unstemmed | Interest-Rate Rules in a New Keynesian Framework with Investment |
| title_short | Interest-Rate Rules in a New Keynesian Framework with Investment |
| title_sort | interest rate rules in a new keynesian framework with investment |
| topic | Interest rates Keynesian economics Monetary policy BUSINESS & ECONOMICS / Money & Monetary Policy bisacsh Interest rates fast Keynesian economics fast Monetary policy fast Wirtschaft Neokeynesianismus (DE-588)4138182-8 gnd Geldpolitik (DE-588)4019902-2 gnd Zins (DE-588)4067845-3 gnd |
| topic_facet | Interest rates Keynesian economics Monetary policy BUSINESS & ECONOMICS / Money & Monetary Policy Wirtschaft Neokeynesianismus Geldpolitik Zins Hochschulschrift |
| url | http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=488003 |
| work_keys_str_mv | AT pavlovaelena interestraterulesinanewkeynesianframeworkwithinvestment |