| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w10392 |
| 来源ID | Working Paper 10392 |
| Rule-of-Thumb Consumers and the Design of Interest Rate Rules | |
| Jordi Gali; J. David Lopez-Salido; Javier Valles | |
| 发表日期 | 2004-03-29 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | We introduce rule-of-thumb consumers in an otherwise standard dynamic sticky price model, and show how their presence can change dramatically the properties of widely used interest rate rules. In particular, the existence of a unique equilibrium is no longer guaranteed by an interest rate rule that satisfies the so called Taylor principle. Our findings call for caution when using estimates of interest rate rules in order to assess the merits of monetary policy in specific historical periods. |
| 主题 | Macroeconomics ; Business Cycles ; Monetary Policy |
| URL | https://www.nber.org/papers/w10392 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/568021 |
| 推荐引用方式 GB/T 7714 | Jordi Gali,J. David Lopez-Salido,Javier Valles. Rule-of-Thumb Consumers and the Design of Interest Rate Rules. 2004. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w10392.pdf（650KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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