Endogenous Monetary Policy Credibility in a Small Macro Model of Israel /
This paper extends a small linear model of the Israeli economy to allow for nonlinearities in the inflation-output process that arise from convexity in the Phillips curve and endogenous monetary policy credibility. We find that the dynamic responses to shocks in the extended model more closely resem...
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| Otros Autores: | , , |
| Formato: | Revista |
| Lenguaje: | English |
| Publicado: |
Washington, D.C. :
International Monetary Fund,
2007.
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| Colección: | IMF Working Papers; Working Paper ;
No. 2007/207 |
| Acceso en línea: | Full text available on IMF |