Unique equilibrium with single monetary instrument rules

Bernardino Adao ()
Authors registered in the RePEc Author Service: Isabel Correia () and Pedro Teles

Working Papers from Banco de Portugal, Economics and Research Department

Abstract: We consider standard cash-in-advance monetary models 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: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:ptu:wpaper:w200512

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