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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Bibliografiska uppgifter
Huvudupphovsman: Argov, Eyal
Övriga upphovsmän: Epstein, Natan, Karam, Philippe, Rose, David
Materialtyp: Tidskrift
Språk:English
Publicerad: Washington, D.C. : International Monetary Fund, 2007.
Serie:IMF Working Papers; Working Paper ; No. 2007/207
Länkar:Full text available on IMF