English, Article, Journal or magazine article edition: Monetary policy, Taylor´s Rule and Endogenous Fluctuations Luis Alberto Alonso González; Alfonso Palacio Vera

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Bookmark: http://trove.nla.gov.au/version/9550
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Monetary policy, Taylor´s Rule and Endogenous Fluctuations
Author
  • Luis Alberto Alonso González
  • Alfonso Palacio Vera
Physical Description
  • preprint
Notes
  • The paper analyses the dynamic behaviour of an economy when the central bank (CB) implements an inflation targeting regime. For this purpose, a simple macroeconomic model is constructed and subjected to formal dynamic analysis. A first result is that, under certain conditions, the emergence of endogenous oscillations in the economy is a possible scenario. A second implication is that CBs face two main policy dilemmas: (i) the degree of gradualism adopted when setting the level of short-term interest rates and (ii) the desirability or otherwise of raising interest rates as soon as economic indicators suggest the emergence of inflationary pressures.
  • RePEc:ucm:doctra:99-19
Language
  • English
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