This paper analyzes the impact of the interaction between monetary policy and fiscal policy on the stability of an one-sector AK economy. The monetary authority pegs the money growth factor while the ...
We study the balanced growth paths and their stability features of a monetary two-sector endogenous growth model with physical capital and human capital accumulation. The demand of money is motivated ...
Download PDF More Formats on IMF eLibrary Order a Print Copy Create Citation Standard New Keynesian (NK) models feature an optimal inflation target well below two percent, limited welfare losses from ...
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