Determinacy, Learnability, and Plausibility in Monetary Policy Analysis: Additional Results
journal contributionposted on 01.07.2006 by Bennett T. McCallum
Any type of content formally published in an academic journal, usually following a peer-review process.
It is almost unnecessary to begin by emphasizing that recent research in monetary policy analysis has featured a great deal of work concerning conditions for determinacy—i.e., existence of a unique dynamically stable rational expectations equilibrium—under various specifications of policy behavior. Indeed, there are a number of papers in which determinacy is the only criterion for a desirable monetary policy regime that is explicitly mentioned.