Vplyv monetárneho zásahu v rámci IS-LM modelu s dynamickou úpravou cien a adaptívnymi očakávaniami

Effect of Monetary Intervention in the Frame of IS-LM Model with Dynamic Price Adjustment and Adaptive Expectations

Karol Szomolányi (), Lukáčik Martin and Lukáčiková Adriana

Politická ekonomie, 2011, vol. 2011, issue 1, 47-57

Abstract: An assumption that a central bank can influence the real interest rates is the object of our interest. In the paper we form and solve a model which corresponds to Romer's (2000) assumptions. Our model is IS-LM augmented by a conception of price-adjusting after monetary intervention and inflation expectations. A monetary policy rule is derived from the model. Moreover, it offers a demonstration of economic behaviour by different economic assumptions of different economic schools, similar to one in the book of Heijdra (2002).

Keywords: monetary policy; IS-LM model dynamics; neutrality of the money; economic schools (search for similar items in EconPapers)
JEL-codes: B41 C30 E58 (search for similar items in EconPapers)
Date: 2011
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DOI: 10.18267/j.polek.771

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