Impacto de las estrategias financieras basadas en expectativas inflacionarias mediante un modelo discreto

Impact of financial strategies based on inflationary expectations using a discrete model

Martin Masci and Gonzalo Garcia ()

MPRA Paper from University Library of Munich, Germany

Abstract: In this paper we propose to address the issue of monetary economic models that can be used as teaching materials for courses in higher mathematics degree. Specifically, this work is based on a paper by Robert Barro and David Gordon (1983) which models the behavior of a closed economy, with a consolidated public sector, and a private non-financial sector, which takes portfolio decisions considering inflationary expectations. The model can be summarized in a set of difference equations, and its solution will guide us about the role of an interventionist monetary authority, and how private sector expectations about future inflation, play against the decision that authority (as long as expectations are formed rationally). This paper will consider two versions of the model: a rational expectations framework (which is used as Barro and Gordon did) and another adaptive expectations framework.

Keywords: Inflation; Rules; Discretion; Expectations (search for similar items in EconPapers)
JEL-codes: A2 C61 C70 D84 E31 (search for similar items in EconPapers)
Date: 2012-05
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:41283

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