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- W1553666400 abstract "The Taylor principle is quite usually considered as a central condition for price determinacy. Recently, however, this has been questioned on several grounds, notably because (i) this condition is a condition for local determinacy, not global determinacy (ii) it has been derived in Ricardian economies, and it appears that going to a non-Ricardian framework makes a very big difference for the determinacy conditions. In this paper we scrutinize the two issues together, and we find that for non-Ricardian equilibria the Taylor principle is replaced by another financial dominance criterion." @default.
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- W1553666400 date "2005-01-01" @default.
- W1553666400 modified "2023-10-18" @default.
- W1553666400 title "The Taylor Principle and Global Determinacy in a Non-Ricardian World" @default.
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- W1553666400 doi "https://doi.org/10.2139/ssrn.893026" @default.
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