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EconStor
Research . 2011
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Sticky information and determinacy

Authors: Alexander Meyer-Gohde;

Sticky information and determinacy

Abstract

The infinite-dimensional sticky-information Phillips curve is cast as a finite-dimensional timevarying system of difference equations in order to directly assess determinacy in the model with demand given by the forward-looking IS equation and monetary policy by an interest rate rule. An equivalence to the model without lagged expectations holds (albeit tenuously) for the particular specification and a common truncation method produces spurious determinacy.

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Germany
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Keywords

Dynamisches Gleichgewicht, Taylor rule, E52, time-varying difference equations, Phillips-Kurve, E31, sticky Information, Determinacy, Taylor rule, Sticky Information, Time-Varying Difference Equations, Unvollkommene Information, ddc:330, 330 Wirtschaft, Taylor-Regel, C62, Determinacy, determinacy, Sticky Information, Time-Varying Difference Equations, Analysis, Theorie, E43, jel: jel:C62, jel: jel:E43, jel: jel:E52, jel: jel:E31

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
views
OpenAIRE UsageCountsViews provided by UsageCounts
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