Monetary Policy and Stable Indeterminacy with Inertia

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Title: Monetary Policy and Stable Indeterminacy with Inertia
Author: Evans, George W., 1949-; McGough, Bruce
Abstract: We examine existence and stability under learning of sunspot equilibria in a New Keynesian model incorporating inertia. Indeterminacy remains prevalent, stable sunspots abound, and inertia in IS and AS relations do not significantly impact the policy region containing stable sunspots.
Description: 9 p.
URI: http://hdl.handle.net/1794/236
Date: 2004-03-29


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