Bifurcation theory of flexible exchange rates in the new Keynesian model: An Application
Abstract
Formerly, the fixed exchange rate was identified as the main policy in economy, but in time it has been proved that the applicability of this policy in economy is not possible. With the new Keynesian approach, this situation has led to the formation and development of new monetary policies. The Keynesian model monetary policy in this article has been based on the flexible exchange rate. By applying the bifurcation theory on monetary policy parameters the interrelations among the inflation target value, the output gap and the equilibrium real interest rate were examined.
Keywords
Kaynakça
- Allen L.J.S., An Introduction to Mathematical Biology, 2007.
- Asada, T., 2006. Stabilization policy in a Keynes-Goodwin model with debt accumulation. Structural Change and Economic Dynamics 17, 466-485.
- Barnett, W.A., He, Y., 1999.Stability analysis of continuous time macroeconometricsystems. Studies in Nonlinear Dynamics and Econometrics 3 (4), 169-188.
Ayrıntılar
Birincil Dil
İngilizce
Konular
Matematik
Bölüm
Araştırma Makalesi
Yayımlanma Tarihi
4 Ocak 2016
Gönderilme Tarihi
13 Şubat 2017
Kabul Tarihi
28 Aralık 2015
Yayımlandığı Sayı
Yıl 2016 Cilt: 1 Sayı: 1