English, Article, Journal or magazine article edition: Rule-of-thumb consumers and the design of interest rate rules Jordi Galí; J. David López Salido; Javier Vallés

User activity

Share to:
 
Bookmark: http://trove.nla.gov.au/version/157995
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Rule-of-thumb consumers and the design of interest rate rules
Author
  • Jordi Galí
  • J. David López Salido
  • Javier Vallés
Physical Description
  • preprint
Notes
  • 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.
  • Taylor principle, interest rate rules, sticky prices, rule-of-thumb consumers
  • RePEc:bde:wpaper:0320
Language
  • English
Contributed by
OAIster

Get this edition

Other links

  • Set up My libraries

    How do I set up "My libraries"?

    In order to set up a list of libraries that you have access to, you must first login or sign up. Then set up a personal list of libraries from your profile page by clicking on your user name at the top right of any screen.

  • All (1)
  • Unknown (1)
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.

User activity


e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this edition

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this version

Add a comment