Monetary Policy with Single Instrument Feedback Rules

Bernardino Adao (), Isabel Correia () and Pedro Teles ()

Working Papers from Banco de Portugal, Economics and Research Department

Abstract: We consider a standard cash in advance monetary model with flexible prices or prices set in advance and show that there are interest rate or money supply rules such that equilibria are unique. The existence of these single instrument rules depends on whether the economy has an infinite horizon or an arbitrarily large but finite horizon.

JEL-codes: E31 E40 E52 E58 E62 E63 (search for similar items in EconPapers)
Date: 2004
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http://www.bportugal.pt/en-US/BdP%20Publications%20Research/WP200419.pdf

Related works:
Working Paper: Monetary Policy with Single Instrument Feedback Rules (2007)
Working Paper: Monetary Policy with Single Instrument Feedback Rules (2005)
Working Paper: Monetary policy with single instrument feedback rules (2004)
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Persistent link: http://EconPapers.repec.org/RePEc:ptu:wpaper:w200419

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