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Optimal monetary policy in a New Keynesian model with endogenous growth

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Optimal monetary policy in a New Keynesian model with endogenous growth. / Annicchiarico, B.; Rossi, L.

In: Journal of Macroeconomics, Vol. 38, No. Part B, 31.12.2013, p. 274-285.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Annicchiarico, B & Rossi, L 2013, 'Optimal monetary policy in a New Keynesian model with endogenous growth', Journal of Macroeconomics, vol. 38, no. Part B, pp. 274-285. https://doi.org/10.1016/j.jmacro.2013.10.001

APA

Annicchiarico, B., & Rossi, L. (2013). Optimal monetary policy in a New Keynesian model with endogenous growth. Journal of Macroeconomics, 38(Part B), 274-285. https://doi.org/10.1016/j.jmacro.2013.10.001

Vancouver

Annicchiarico B, Rossi L. Optimal monetary policy in a New Keynesian model with endogenous growth. Journal of Macroeconomics. 2013 Dec 31;38(Part B):274-285. Epub 2013 Oct 17. doi: 10.1016/j.jmacro.2013.10.001

Author

Annicchiarico, B. ; Rossi, L. / Optimal monetary policy in a New Keynesian model with endogenous growth. In: Journal of Macroeconomics. 2013 ; Vol. 38, No. Part B. pp. 274-285.

Bibtex

@article{1aef25a2e1c84f57ab6109ba225982a9,
title = "Optimal monetary policy in a New Keynesian model with endogenous growth",
abstract = "We study optimal monetary policy in a New Keynesian (NK) model with endogenous growth and knowledge spillovers external to each firm. We find that, in contrast with the standard NK model, the Ramsey dynamics implies deviation from full inflation targeting in response to technology and government spending shocks, while the optimal operational rule is backward looking and responds to inflation and output deviations from their long-run levels. ",
keywords = "Endogenous growth, Monetary policy, Optimal simple rules, Ramsey problem",
author = "B. Annicchiarico and L. Rossi",
year = "2013",
month = dec,
day = "31",
doi = "10.1016/j.jmacro.2013.10.001",
language = "English",
volume = "38",
pages = "274--285",
journal = "Journal of Macroeconomics",
issn = "0164-0704",
publisher = "Elsevier BV",
number = "Part B",

}

RIS

TY - JOUR

T1 - Optimal monetary policy in a New Keynesian model with endogenous growth

AU - Annicchiarico, B.

AU - Rossi, L.

PY - 2013/12/31

Y1 - 2013/12/31

N2 - We study optimal monetary policy in a New Keynesian (NK) model with endogenous growth and knowledge spillovers external to each firm. We find that, in contrast with the standard NK model, the Ramsey dynamics implies deviation from full inflation targeting in response to technology and government spending shocks, while the optimal operational rule is backward looking and responds to inflation and output deviations from their long-run levels.

AB - We study optimal monetary policy in a New Keynesian (NK) model with endogenous growth and knowledge spillovers external to each firm. We find that, in contrast with the standard NK model, the Ramsey dynamics implies deviation from full inflation targeting in response to technology and government spending shocks, while the optimal operational rule is backward looking and responds to inflation and output deviations from their long-run levels.

KW - Endogenous growth

KW - Monetary policy

KW - Optimal simple rules

KW - Ramsey problem

U2 - 10.1016/j.jmacro.2013.10.001

DO - 10.1016/j.jmacro.2013.10.001

M3 - Journal article

VL - 38

SP - 274

EP - 285

JO - Journal of Macroeconomics

JF - Journal of Macroeconomics

SN - 0164-0704

IS - Part B

ER -