Monetary Policy Rules and Business Cycles

Soyoung Kim

Working Papers from Banco de España

Abstract: Business cycle properties under different monetary policy rules are examined in a variety of dynamic stochastic general equilibrium models (the real business cycle models, the nominal wage contract models with different length of contracts, and the monopolistic competition models with different size of price adjustment costs). The experiments show that nominal and real features of business cycles are substantially different under monetary policy rules.

Keywords: MONETARY POLICY; BUSINESS CYCLES; GENERAL EQUILIBRIUM (search for similar items in EconPapers)
JEL-codes: C68 E32 E52 (search for similar items in EconPapers)
Pages: 51 pages
Date: 1998
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Journal Article: Monetary Policy Rules and Business Cycles (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:bde:wpaper:9804

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