Matches in SemOpenAlex for { <https://semopenalex.org/work/W3123489258> ?p ?o ?g. }
- W3123489258 endingPage "346" @default.
- W3123489258 startingPage "333" @default.
- W3123489258 abstract "An economy that switches between high and low growth regimes creates incentives for the monetary authority to change the parameters in its simple rule. As lower growth tends to produce lower real interest rates, the monetary authority has an incentive to increase the inflation target and increase the degree of inertia in setting rates in an attempt to keep the nominal rate away from the zero lower bound. An optimal simple rule therefore responds to permanently lower growth by slightly increasing both the inflation target and inertia; focusing solely on the inflation target ignores a key margin of adjustment. With repeated growth rate regime switches, an optimal simple rule that switches at the same time internalizes both the direct effects of growth regime change and the indirect expectation effects generated by switching in policy. The switching rule improves economic outcomes relative to a constant rule. A constant rule may be preferred if the monetary authority attempts a switching rule but implements the wrong rule with high enough frequency." @default.
- W3123489258 created "2021-02-01" @default.
- W3123489258 creator A5074225688 @default.
- W3123489258 creator A5082092819 @default.
- W3123489258 date "2021-10-01" @default.
- W3123489258 modified "2023-09-27" @default.
- W3123489258 title "Optimal monetary policy regime switches" @default.
- W3123489258 cites W1540757224 @default.
- W3123489258 cites W1968804456 @default.
- W3123489258 cites W1987465129 @default.
- W3123489258 cites W2089900654 @default.
- W3123489258 cites W2128659533 @default.
- W3123489258 cites W2139599514 @default.
- W3123489258 cites W2152104651 @default.
- W3123489258 cites W2154801578 @default.
- W3123489258 cites W2165313824 @default.
- W3123489258 cites W2169169992 @default.
- W3123489258 cites W2240993217 @default.
- W3123489258 cites W2582155180 @default.
- W3123489258 cites W3021990645 @default.
- W3123489258 cites W3023633785 @default.
- W3123489258 cites W3094108936 @default.
- W3123489258 cites W3121293537 @default.
- W3123489258 cites W3122280204 @default.
- W3123489258 cites W3123291178 @default.
- W3123489258 cites W3123530336 @default.
- W3123489258 cites W3123968775 @default.
- W3123489258 cites W3125912523 @default.
- W3123489258 cites W3126099446 @default.
- W3123489258 cites W4212804417 @default.
- W3123489258 doi "https://doi.org/10.1016/j.red.2020.11.007" @default.
- W3123489258 hasPublicationYear "2021" @default.
- W3123489258 type Work @default.
- W3123489258 sameAs 3123489258 @default.
- W3123489258 citedByCount "0" @default.
- W3123489258 crossrefType "journal-article" @default.
- W3123489258 hasAuthorship W3123489258A5074225688 @default.
- W3123489258 hasAuthorship W3123489258A5082092819 @default.
- W3123489258 hasBestOaLocation W31234892582 @default.
- W3123489258 hasConcept C110407247 @default.
- W3123489258 hasConcept C111472728 @default.
- W3123489258 hasConcept C119857082 @default.
- W3123489258 hasConcept C121332964 @default.
- W3123489258 hasConcept C126285488 @default.
- W3123489258 hasConcept C134306372 @default.
- W3123489258 hasConcept C138885662 @default.
- W3123489258 hasConcept C149782125 @default.
- W3123489258 hasConcept C154815372 @default.
- W3123489258 hasConcept C162324750 @default.
- W3123489258 hasConcept C175025494 @default.
- W3123489258 hasConcept C175444787 @default.
- W3123489258 hasConcept C185824701 @default.
- W3123489258 hasConcept C199360897 @default.
- W3123489258 hasConcept C200941418 @default.
- W3123489258 hasConcept C2777027219 @default.
- W3123489258 hasConcept C2778222704 @default.
- W3123489258 hasConcept C2779513878 @default.
- W3123489258 hasConcept C2780586882 @default.
- W3123489258 hasConcept C29122968 @default.
- W3123489258 hasConcept C2992735868 @default.
- W3123489258 hasConcept C33332235 @default.
- W3123489258 hasConcept C33923547 @default.
- W3123489258 hasConcept C41008148 @default.
- W3123489258 hasConcept C556758197 @default.
- W3123489258 hasConcept C74650414 @default.
- W3123489258 hasConcept C774472 @default.
- W3123489258 hasConcept C77553402 @default.
- W3123489258 hasConcept C84888623 @default.
- W3123489258 hasConceptScore W3123489258C110407247 @default.
- W3123489258 hasConceptScore W3123489258C111472728 @default.
- W3123489258 hasConceptScore W3123489258C119857082 @default.
- W3123489258 hasConceptScore W3123489258C121332964 @default.
- W3123489258 hasConceptScore W3123489258C126285488 @default.
- W3123489258 hasConceptScore W3123489258C134306372 @default.
- W3123489258 hasConceptScore W3123489258C138885662 @default.
- W3123489258 hasConceptScore W3123489258C149782125 @default.
- W3123489258 hasConceptScore W3123489258C154815372 @default.
- W3123489258 hasConceptScore W3123489258C162324750 @default.
- W3123489258 hasConceptScore W3123489258C175025494 @default.
- W3123489258 hasConceptScore W3123489258C175444787 @default.
- W3123489258 hasConceptScore W3123489258C185824701 @default.
- W3123489258 hasConceptScore W3123489258C199360897 @default.
- W3123489258 hasConceptScore W3123489258C200941418 @default.
- W3123489258 hasConceptScore W3123489258C2777027219 @default.
- W3123489258 hasConceptScore W3123489258C2778222704 @default.
- W3123489258 hasConceptScore W3123489258C2779513878 @default.
- W3123489258 hasConceptScore W3123489258C2780586882 @default.
- W3123489258 hasConceptScore W3123489258C29122968 @default.
- W3123489258 hasConceptScore W3123489258C2992735868 @default.
- W3123489258 hasConceptScore W3123489258C33332235 @default.
- W3123489258 hasConceptScore W3123489258C33923547 @default.
- W3123489258 hasConceptScore W3123489258C41008148 @default.
- W3123489258 hasConceptScore W3123489258C556758197 @default.
- W3123489258 hasConceptScore W3123489258C74650414 @default.
- W3123489258 hasConceptScore W3123489258C774472 @default.
- W3123489258 hasConceptScore W3123489258C77553402 @default.
- W3123489258 hasConceptScore W3123489258C84888623 @default.
- W3123489258 hasLocation W31234892581 @default.