Cardiff University | Prifysgol Caerdydd ORCA
Online Research @ Cardiff 
WelshClear Cookie - decide language by browser settings

Ruling out unstable equilibria in New Keynesian models

Minford, Anthony Patrick Leslie and Srinivasan, Naveen 2011. Ruling out unstable equilibria in New Keynesian models. Economics Letters 112 (3) , pp. 247-249. 10.1016/j.econlet.2011.05.014

Full text not available from this repository.


The Taylor rule is an incomplete description of monetary policy within a New Keynesian model. The NK model should be formulated with a money demand function and also embody a terminal condition on inflation explicitly designed to stop bubbles.

Item Type: Article
Date Type: Publication
Status: Published
Schools: Business (Including Economics)
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HG Finance
Uncontrolled Keywords: New Keynesian ; Taylor rule ; Determinacy ; Terminal condition ; Money supply
Publisher: Elsevier
ISSN: 0165-1765
Last Modified: 04 Jun 2017 03:21

Citation Data

Cited 1 time in Scopus. View in Scopus. Powered By Scopus® Data

Actions (repository staff only)

Edit Item Edit Item