Monetary Policy with Single Instrument Feedback Rules

descriptionPublicationkeyboard_double_arrow_right Article , Other literature type , Preprint 01 Jan 2004 English Publisher:Elsevier BVJournal:SSRN Electronic Journal (eissn: 1556-5068,

Copyright policy )

Authors: Adão, Bernardino; Correia, Isabel; Teles, Pedro;

doi: 10.2139/ssrn.642621

Monetary Policy with Single Instrument Feedback Rules

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Abstract

We consider standard cash-in-advance monetary models and show that there are interest rate or money supply rules such that equilibria are unique. The existence of these single instrument rules depends on whether the economy has an infinite horizon or an arbitrarily large but finite horizon.

Related Organizations

Banco de Portugal
Portugal
Economic Policy Institute
United States
Federal Reserve Bank of Chicago
United States

Keywords

Monetary policy ; Prices, interest rate rules; monetary policy; unique equilibrium, jel: jel:E40, jel: jel:E62, jel: jel:E52, jel: jel:E63, jel: jel:E31, jel: jel:E58

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