Nominal Interest Rate Pegging Under Alternative Expectations Hypotheses.
Nominal interest rate pegging leads to instability in an IS-LM model with a vertical long-run Phillips curve and backward-looking inflation expectations. However, it does not lead to instability in several large multicountry econometric models, apparently primarily because these models have nonverti...
| Awdur Corfforaethol: | |
|---|---|
| Fformat: | Cylchgrawn |
| Iaith: | English |
| Cyhoeddwyd: |
Washington, D.C. :
International Monetary Fund,
1988.
|
| Cyfres: | IMF Working Papers; Working Paper ;
No. 1988/094 |
| Mynediad Ar-lein: | Full text available on IMF |