Price level determinacy and the choice of policy targets under rational expectations

Aliza Brezis; Edward K. Offenbacher

doi:10.1016/0165-1765(83)90006-x

Price level determinacy and the choice of policy targets under rational expectations

Aliza Brezis
, Edward K. Offenbacher

Research output: Contribution to journal › Article › peer-review

1 Scopus citations

Abstract

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.

Original language	English
Pages (from-to)	25-30
Number of pages	6
Journal	Economics Letters
Volume	13
Issue number	1
DOIs	https://doi.org/10.1016/0165-1765(83)90006-x
State	Published - 1983
Externally published	Yes

Access to Document

10.1016/0165-1765(83)90006-x

Cite this

@article{c233969f94c44e7797a5ff58da6b1fb9,

title = "Price level determinacy and the choice of policy targets under rational expectations",

abstract = "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.",

author = "Aliza Brezis and Offenbacher, \{Edward K.\}",

year = "1983",

doi = "10.1016/0165-1765(83)90006-x",

language = "אנגלית",

volume = "13",

pages = "25--30",

journal = "Economics Letters",

issn = "0165-1765",

publisher = "Elsevier B.V.",

number = "1",

}

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 - https://www.scopus.com/pages/publications/49049128013

U2 - 10.1016/0165-1765(83)90006-x

DO - 10.1016/0165-1765(83)90006-x

M3 - ???researchoutput.researchoutputtypes.contributiontojournal.article???

AN - SCOPUS:49049128013

SN - 0165-1765

VL - 13

SP - 25

EP - 30

JO - Economics Letters

JF - Economics Letters

IS - 1

ER -

Price level determinacy and the choice of policy targets under rational expectations

Abstract

Access to Document

Other files and links

Fingerprint

Cite this