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Endogenous time-dependent rules and the costs of disinflation with imperfect credibility
(Fundação Getulio Vargas. Escola de Pós-graduação em Economia, 2003-10-09)
This paper examines the output effects of monetary disinflation in a model with endogenous time-dependent pricing rules and imperfect credibility of the disinflation policy. We find that these features interact to generate ...
Optimal state-dependent rules, credibility, and inflation inertia
(Escola de Pós-Graduação em Economia da FGV, 1999-06-01)
Endogenous time-dependent rules and inflation inertia: preliminary version
(Escola de Pós-Graduação em Economia da FGV, 1999-06)
When policy rules are changed, the effect of nominal rigidities should be modelled through endogenous pricing rules. We endogenize Taylor (1979) type pricing rule to examine the output effects of monetary disinflations. ...