| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w24949 |
| 来源ID | Working Paper 24949 |
| Discouraging Deviant Behavior in Monetary Economics | |
| Lawrence Christiano; Yuta Takahashi | |
| 发表日期 | 2018-09-03 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | We consider a model in which monetary policy is governed by a Taylor rule. The model has a unique equilibrium near the steady state, but also has other equilibria. The introduction of a particular escape clause into monetary policy works like the Taylor principle to exclude the other equilibria. We reconcile our finding about the escape clause with the sharply different conclusion reached in Cochrane (2011). Atkeson et al. (2010) study a different version of the escape clause policy, but that version is fragile in that it lacks a crucial robustness property. |
| 主题 | Macroeconomics ; Monetary Policy |
| URL | https://www.nber.org/papers/w24949 |
| 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/582623 |
| 推荐引用方式 GB/T 7714 | Lawrence Christiano,Yuta Takahashi. Discouraging Deviant Behavior in Monetary Economics. 2018. |
| 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 | ||
| w24949.pdf（562KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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