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Abstract This paper analyzes conditions for equilibrium determinacy in a new Keynesian model with endogenous growth. Endogenous growth shrinks the determinacy region considerably. Complying with the Taylor principle is not… Click to show full abstract
Abstract This paper analyzes conditions for equilibrium determinacy in a new Keynesian model with endogenous growth. Endogenous growth shrinks the determinacy region considerably. Complying with the Taylor principle is not sufficient for equilibrium determinacy.
Keywords:
growth taylor;
taylor principle;
growth;
endogenous growth
Journal Title: Economics Letters
Year Published: 2017
Link to full text (if available)
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Journal Title: Economics Letters
Year Published: 2017
Link to full text (if available)
Share on Social Media: Sign Up to like & get
recommendations!