Technological change and monetary policy in a sticky-price model

Eiji Tsuzuki*, Tomohiro Inoue

*この研究の対応する著者

研究成果: Article査読

2 被引用数 (Scopus)

抄録

We developed a sticky-price model that introduces the factors of (a) the non-separability of consumption and labor in the utility function and (b) a technological change induced by the investment of profits, to analyze the determinacy of equilibrium. We found that while engaging in inflation targeting increases the probability of determinacy, engaging in share-price targeting decreases the probability of determinacy in a standard sticky-price model; engaging in both inflation targeting and share-price targeting can increase the probability of determinacy in our model.

本文言語English
ページ(範囲)180-194
ページ数15
ジャーナルResearch in Economics
65
3
DOI
出版ステータスPublished - 2011 9月

ASJC Scopus subject areas

  • 経済学、計量経済学

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