NAIRU uncertainty and nonlinear policy rules

Article Abstract:

A model for adjusting monetary policy and interest rates in reaction to unemployment rates is presented. When unemployment rate declines below the level known as the non-accelerating-inflation rate of unemployment the interest rate is adjusted accordingly using non-linear equations.

Models, Unemployment, Economic stabilization

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Should monetary policy respond strongly to output gaps?

Article Abstract:

Many economic theorists believe that monetary policy should respond to several economic output gaps and correct in the case of each one. This study shows that when more variables are added to the monetary policy formula, the margin for error is greatly increased.

Influence, Macroeconomics

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Interest rates and inflation

Article Abstract:

The manipulation of short-term interest rates is regarded as the most effective way to control inflation. This study shows that in a system of segmented market, inflation can be controlled by adjusting the money growth rate and keeping interest rates steady.

Interest rates, Keynesian economics

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