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| Author: | Andlfatto, D. Gomme, P. |
| Title: | Monetary policy regimes and beliefs |
| Journal: | International Economic Review
2003 : FEB, VOL. 44:1, p. 1-30 |
| Index terms: | Monetary policy Financial policy Equilibrium theory Statistical methods |
| Language: | eng |
| Abstract: | The authors investigate the role of beliefs over monetary policy in propagating the effects of monetary policy shocks within the context of a dynamic, stochastic general equilibrium model. In their model monetary policy periodically switches between low and high money growth regimes. The model is able to capture some of the observed persistence of real and nominal variables following such a regime change. |
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