Equilibrium Determinacy

Morten O. Ravn · Vincent Sterk

A HANK model that is tractable enough to solve on paper, built by grafting Diamond-Mortensen-Pissarides search frictions onto a New Keynesian economy and then imposing assumptions that make the wealth …

Ricardo Lagos

The cashless-limiting result in Woodford (1998) — that as money velocity diverges the allocation of a monetary economy converges to that of the corresponding economy without money — is the theoretical …

Tom D. Holden

The paper proposes and analyzes real rate rules — monetary policy rules of the form i_t = r_t + φπ_t (φ > 1), where r_t is the current-period real interest rate observed via TIPS yields or inflation …