| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4245 |
| DP4245 Easy Targets and the Timing of Conflict | |
| Helmut Bester; Kai Konrad | |
| 发表日期 | 2004-02-23 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | Non-coordinated monetary policy is analysed in a stochastic two-country general equilibrium model. Non-coordinated equilibria are compared in two cases: one where policy is set in terms of state-contingent money supply rules, and one where policy is set in terms of state-contingent nominal interest rate rules. In general the non-coordinated equilibrium differs between the two types of policy rule, but a number of special cases are identified where the equilibria are identical. The endogenous choice of policy instrument is analysed and the Nash equilibrium in the choice of policy instrument is shown to depend on the interest elasticity of money demand. |
| 主题 | International Macroeconomics |
| 关键词 | monetary policy Money supply rules Interest rate rules |
| URL | https://cepr.org/publications/dp4245 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533211 |
| 推荐引用方式 GB/T 7714 | Helmut Bester,Kai Konrad. DP4245 Easy Targets and the Timing of Conflict. 2004. |
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