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An endogenous Taylor condition in an endogenous growth monetary policy model

Le, Mai Vo, Gillman, Max and Minford, Patrick 2007. An endogenous Taylor condition in an endogenous growth monetary policy model. [Working Paper]. Cardiff Economics Working Papers, Cardiff: Cardiff University.

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Abstract

The paper derives a Taylor condition as part of the agent's equilibrium behavior in an endogenous growth monetary economy. It shows the assumptions necessary to make it almost identical to the original Taylor rule, and that it can interchangably take a money supply growth rate form. From the money supply form, simple policy experiments are conducted. A full central bank policy model is derived that includes the Taylor condition along with equations comparable to the standard aggregate-demand/aggregate-supply model.

Item Type: Monograph (Working Paper)
Date Type: Publication
Status: Published
Schools: Business (Including Economics)
Subjects: H Social Sciences > HB Economic Theory
Publisher: Cardiff University
Date of First Compliant Deposit: 30 March 2016
Last Modified: 06 Oct 2015 09:40
URI: http://orca.cf.ac.uk/id/eprint/77776

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