-
Recursos bibliográficos en papel y digitales -
- libros, artículos de revistas,
ponencias de eventos, etc. -
» Resultado: 2 registros
| Registro 1 de 2 | |
| Autor: | Benhabib, Jess - Schmitt-Grohe, Stephanie - Uribe, Martin |
| Título: | Monetary Policy and Multiple Equilibria |
| Fuente: | American Economic Review. v.91, n.1. American Economic Association |
| Páginas: | pp. 167-86 |
| Año: | Mar. 2001 |
| Resumen: | This paper characterizes conditions under which interest-rate feedback rules that set the nominal interest rate as an increasing function of the inflation rate induce aggregate instability by generating multiple equilibria. It shows that these conditions depend not only on the monetary-fiscal regime (as emphasized in the fiscal theory of the price level) but also on the way in which money is assumed to enter preferences and technology. It provides a number of examples in which, contrary to what is commonly believed, active monetary policy gives rise to multiple equilibria and passive monetary policy renders the equilibrium unique. |
| Solicitar por: | HEMEROTECA A + datos de Fuente |
| Registro 2 de 2 | |
| Autor: | Schmitt-Grohe, Stephanie - |
| Título: | Endogenous Business Cycles and the Dynamics of Output, Hours, and Consumption |
| Fuente: | American Economic Review. v.90, n.5. American Economic Association |
| Páginas: | pp. 1136-59 |
| Año: | Dec. 2000 |
| Resumen: | This paper studies the business-cycle fluctuations predicted by a two-sector endogenous-business-cycle model with sector-specific external increasing returns to scale. It focuses on aspects of actual fluctuations that have been identified both as defining features of business cycles and as ones standard real-business-cycle models cannot explain. For empirically realistic calibrations of the degree of returns to scale, the results suggest that endogenous fluctuations do not provide the dynamic element that is missing in existing real-business-cycle models. |
| Solicitar por: | HEMEROTECA A + datos de Fuente |
*** No hay más registros para visualizar ***
>> Nueva búsqueda <<