Optimal monetary policy and the equivalency between the one-period AD-AS model and the forward-looking New Keynesian model

被引：5
|
作者：
Krause, Stefan [1 ]
机构：
[1] Emory Univ, Dept Econ, Atlanta, GA 30322 USA
来源：
APPLIED ECONOMICS LETTERS | 2006年 / 13卷 / 09期
关键词：
D O I：
10.1080/13504850600691093
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
It is shown how a one-period aggregate demand-aggregate supply (AD-AS) model yields equivalent expressions for inflation and output under optimal monetary policy as a forward-looking New Keynesian model. Furthermore the advantage that the AD-AS model has over the New Keynesian specification when evaluating policy efficiency is evaluated.
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页码：541 / 544
页数：4
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