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Impact of Delays in Policy Implementation on Economic Stability under Sticky Prices
https://chuo-u.repo.nii.ac.jp/records/2000208
https://chuo-u.repo.nii.ac.jp/records/2000208b514b2c9-e2bb-4539-b1b8-d4eca0add4ec
名前 / ファイル | ライセンス | アクション |
---|---|---|
dp391.pdf
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Item type | 紀要論文 / Departmental Bulletin Paper(1) | |||||||||||||
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公開日 | 2023-10-04 | |||||||||||||
タイトル | ||||||||||||||
言語 | en | |||||||||||||
タイトル | Impact of Delays in Policy Implementation on Economic Stability under Sticky Prices | |||||||||||||
言語 | ||||||||||||||
言語 | eng | |||||||||||||
キーワード | ||||||||||||||
言語 | en | |||||||||||||
主題Scheme | Other | |||||||||||||
主題 | New Keynesian model | |||||||||||||
キーワード | ||||||||||||||
言語 | en | |||||||||||||
主題Scheme | Other | |||||||||||||
主題 | Policy lag | |||||||||||||
キーワード | ||||||||||||||
言語 | en | |||||||||||||
主題Scheme | Other | |||||||||||||
主題 | Delay differential equation | |||||||||||||
キーワード | ||||||||||||||
言語 | en | |||||||||||||
主題Scheme | Other | |||||||||||||
主題 | Equilibrium determinacy | |||||||||||||
キーワード | ||||||||||||||
言語 | en | |||||||||||||
主題Scheme | Other | |||||||||||||
主題 | JEL Classi cation:E32 | |||||||||||||
キーワード | ||||||||||||||
言語 | en | |||||||||||||
主題Scheme | Other | |||||||||||||
主題 | E52 | |||||||||||||
キーワード | ||||||||||||||
言語 | en | |||||||||||||
主題Scheme | Other | |||||||||||||
主題 | E63 | |||||||||||||
資源タイプ | ||||||||||||||
資源タイプ識別子 | http://purl.org/coar/resource_type/c_6501 | |||||||||||||
資源タイプ | departmental bulletin paper | |||||||||||||
著者 |
都築,栄司
× 都築,栄司
× 品川,俊介
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抄録 | ||||||||||||||
内容記述タイプ | Abstract | |||||||||||||
内容記述 | This study extends the New Keynesian model to examine the impact of delays in monetary policy implementation on economic stability. The extant literature indicates that if a central bank delays its response to the inflation rate, this policy lag may increase the number of positive roots in the model economy, implying that a time lag associated with inflation-targeting policy causes instability or eliminates indeterminacy. However, cases where a central bank considers multiple target variables but only one of them has a lag have not yet been examined. We analyze the case in which the inflation rate and output are the target variables of policy intervention, wherein a delay occurs in the central bank's response to output. We demonstrate that a policy lag may increase the number of negative roots in the dynamic system, implying that instability rather than indeterminacy may be eliminated by a policy lag. | |||||||||||||
言語 | en | |||||||||||||
書誌情報 |
ja : 経済研究所 Discussion Paper en : IERCU Discussion Paper 巻 391, 発行日 2023-09-19 |
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出版者 | ||||||||||||||
言語 | ja | |||||||||||||
出版者 | 中央大学経済研究所 | |||||||||||||
権利 | ||||||||||||||
言語 | ja | |||||||||||||
権利情報 | この資料の著作権は、資料の著作者または学校法人中央大学に帰属します。著作権法が定める私的利用・引用を超える使用を希望される場合には、掲載誌発行部局へお問い合わせください。 | |||||||||||||
フォーマット | ||||||||||||||
内容記述タイプ | Other | |||||||||||||
内容記述 | application/pdf | |||||||||||||
著者版フラグ | ||||||||||||||
出版タイプ | VoR | |||||||||||||
出版タイプResource | http://purl.org/coar/version/c_970fb48d4fbd8a85 |