| 货币政策规则:世代交叠模型中的前瞻规则和后顾规则(英文) |
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| 引用本文： | 陈家清,刘次华.货币政策规则:世代交叠模型中的前瞻规则和后顾规则(英文)[J].上海大学学报(英文版),2006(4). |
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| 作者姓名： | 陈家清 刘次华 |
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| 作者单位： | Department of Mathematics Huazhong University of Science and Technology Wuhan 430074 P.R. China，Department of Mathematics，Huazhong University of Science and Technology Wuhan 430074 P.R. China |
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| 基金项目： | Project supported by National Natural Science Foundation ofChina (Grant No .70071012) |
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| 摘 要： | 1 Introduction In recent years , many prominent central banks haveadopted inflation targeting or inflation forecast target-ing as their preferred framework for the conduct ofmonetary policy.Svensson1]proposed inflation target-ing as a monetary policy rul…
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Monetary policy rules:Forward-looking and backward-looking in an overlapping generations model |
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| CHEN Jia-qing LIU Ci-hua.Monetary policy rules:Forward-looking and backward-looking in an overlapping generations model[J].Journal of Shanghai University(English Edition),2006(4). |
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| Authors: | CHEN Jia-qing LIU Ci-hua |
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| Institution: | CHEN Jia-qing LIU Ci-hua Department of Mathematics,Huazhong University of Science and Technology,Wuhan 430074,P.R. China |
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| Abstract: | In the framework of an overlapping generations model, forward-looking monetary policy rules and backward-looking monetary policy rules were investigated. It is shown that the monetary steady state is more likely to be indeterminate under an active forward-looking rule than under the corresponding backward-looking rule. It is also shown that backward-looking rules can render the monetary steady state unstable. |
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| Keywords: | overlapping generations model forward-looking rules backward-looking rules monetary policy |
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