Examinando por Materia "regla de Taylor"

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    ¿Es conveniente una autoridad monetaria “blanda”?
    (Universidad EAFIT, 2017-08-01) Posada, Carlos E.; Villca, Alfredo; cposad25@eafit.edu.co; avillca@eafit.edu.co
    Within the framework of the so-called “inflation targeting” strategy there is a discussion about the convenience for a society as to the degree of “hardness” of a monetary authority looking to defend its inflation target, and the credibility that this authority enjoys between the private agents about it. In this paper we use a neo-Keynesian stochastic dynamic general equilibrium (DSGE) model with both rational and adaptive expectations to answer this question. Our results suggest that the social problem that can be derived from a “soft” authority is that it risks losing credibility in its effort to reach a certain inflation target. In addition, we present and use a solution of the rational expectations version of the model simple enough to allow its simulations to be performed using a spreadsheet.