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- 青木 慎
- 中央大学経済学部
書誌事項
- タイトル別名
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- Optimal Monetary Policy in Liquidity Trap and Mixed-type Expectation Formations Based on the Rate of Price Inflation
- リュウドウセイ ノ ワナ ト コンゴウガタ ノ インフレ キタイ ケイセイ ニ オケル サイテキ キンユウ セイサク
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説明
This paper examines the dynamics and conditions for stabilization when the central bank adopts a monetary policy with discretion in the growth rate of a nominal money supply, especially during a ‘short run’ Keynesian model with a liquidity trap. In addition, the formalization of the expected inflation is a mixture of ‘forward looking’ and ‘backward looking’. The framework of the macro model is based on Asada ([7]).<br>We focus on the mixed-type formalization of expected inflation with ‘backward looking’ to evaluate the performance of the policy. If the speed of the aggregate demand influenced by the growth rate of real money is sufficiently small positive value, even though credibility of inflation targeting is not sufficient, the central bank can stabilize and optimize a macro economy with a discretionary commitment policy. However, if the speed of adjustment of the aggregate demand influenced by the growth rate of the real money is larger than 1, the discretionary commitment policy does not accomplish stabilization and optimization in the system.<br>JEL Classification:E52, E61, E62
収録刊行物
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- 地域学研究
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地域学研究 45 (3), 241-255, 2015
日本地域学会
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詳細情報 詳細情報について
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- CRID
- 1390282679409237632
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- NII論文ID
- 130005131861
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- NII書誌ID
- AN00140630
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- ISSN
- 18806465
- 02876256
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- NDL書誌ID
- 027050178
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- 本文言語コード
- ja
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- データソース種別
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- JaLC
- NDL
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- CiNii Articles
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- 使用不可