How Long to Read Unconventional Policy Instruments in the New Keynesian Model

How Long Does it Take to Read Unconventional Policy Instruments in the New Keynesian Model?

It takes the average reader and 34 minutes to read Unconventional Policy Instruments in the New Keynesian Model by Zineddine Alla

Assuming a reading speed of 250 words per minute. Learn more

Description

This paper analyzes the use of unconventional policy instruments in New Keynesian setups in which the ‘divine coincidence’ breaks down. The paper discusses the role of a second instrument and its coordination with conventional interest rate policy, and presents theoretical results on equilibrium determinacy, the inflation bias, the stabilization bias, and the optimal central banker’s preferences when both instruments are available. We show that the use of an unconventional instrument can help reduce the zone of equilibrium indeterminacy and the volatility of the economy. However, in some circumstances, committing not to use the second instrument may be welfare improving (a result akin to Rogoff (1985a) example of counterproductive coordination). We further show that the optimal central banker should be both aggressive against inflation, and interventionist in using the unconventional policy instrument. As long as price setting depends on expectations about the future, there are gains from establishing credibility by using any instrument that affects these expectations.

How long is Unconventional Policy Instruments in the New Keynesian Model?

Unconventional Policy Instruments in the New Keynesian Model by Zineddine Alla is 34 pages long, and a total of 8,636 words.

This makes it 11% the length of the average book. It also has 11% more words than the average book.

How Long Does it Take to Read Unconventional Policy Instruments in the New Keynesian Model Aloud?

The average oral reading speed is 183 words per minute. This means it takes and 47 minutes to read Unconventional Policy Instruments in the New Keynesian Model aloud.

What Reading Level is Unconventional Policy Instruments in the New Keynesian Model?

Unconventional Policy Instruments in the New Keynesian Model is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Unconventional Policy Instruments in the New Keynesian Model?

Unconventional Policy Instruments in the New Keynesian Model by Zineddine Alla is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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