Monetary policy, Taylor's rule and endogenous fluctuations
| dc.contributor.author | Alonso González, Luis Alberto | |
| dc.contributor.author | Palacio Vera, Alfonso | |
| dc.date.accessioned | 2023-06-21T01:41:52Z | |
| dc.date.available | 2023-06-21T01:41:52Z | |
| dc.date.issued | 1999 | |
| dc.description.abstract | 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. | |
| dc.description.department | Decanato | |
| dc.description.faculty | Fac. de Ciencias Económicas y Empresariales | |
| dc.description.refereed | TRUE | |
| dc.description.status | pub | |
| dc.eprint.id | https://eprints.ucm.es/id/eprint/6690 | |
| dc.identifier.issn | 2255-5471 | |
| dc.identifier.relatedurl | http://www.ucm.es/centros/webs/fccee/ | |
| dc.identifier.relatedurl | https://economicasyempresariales.ucm.es/working-papers-ccee | |
| dc.identifier.uri | https://hdl.handle.net/20.500.14352/64365 | |
| dc.issue.number | 19 | |
| dc.language.iso | eng | |
| dc.page.total | 19 | |
| dc.publication.place | Madrid | |
| dc.publisher | Facultad de Ciencias Económicas y Empresariales. Decanato | |
| dc.relation.ispartofseries | Documentos de Trabajo de la Facultad de Ciencias Económicas y Empresariales | |
| dc.rights | Atribución-NoComercial-CompartirIgual 3.0 España | |
| dc.rights.accessRights | open access | |
| dc.rights.uri | https://creativecommons.org/licenses/by-nc-sa/3.0/es/ | |
| dc.subject.keyword | Política monetaria | |
| dc.subject.keyword | Regla de Taylor | |
| dc.title | Monetary policy, Taylor's rule and endogenous fluctuations | |
| dc.type | technical report | |
| dc.volume.number | 1999 | |
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| relation.isAuthorOfPublication.latestForDiscovery | 39ff9be1-6917-4a21-a074-56f1fae55a97 |
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