TY - JOUR
T1 - Price level determinacy and the choice of policy targets under rational expectations
AU - Brezis, Aliza
AU - Offenbacher, Edward K.
PY - 1983
Y1 - 1983
N2 - We show that in a conventional macro model with rational expectations, the government can use monetary policy to peg real interest rates, and still attain a determinate price level provided it also pegs some nominal policy variable, e.g., nominal expenditures.
AB - We show that in a conventional macro model with rational expectations, the government can use monetary policy to peg real interest rates, and still attain a determinate price level provided it also pegs some nominal policy variable, e.g., nominal expenditures.
UR - http://www.scopus.com/inward/record.url?scp=49049128013&partnerID=8YFLogxK
U2 - 10.1016/0165-1765(83)90006-X
DO - 10.1016/0165-1765(83)90006-X
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AN - SCOPUS:49049128013
SN - 0165-1765
VL - 13
SP - 25
EP - 30
JO - Economics Letters
JF - Economics Letters
IS - 1
ER -