Welfare Effects of Monetary Policy Rules in a Model with Nominal Rigidities and Credit Market Frictions

Paustian Matthias
CEIS Working Papers
This paper evaluates monetary policy rules in a business cycle model with staggered prices and wage setting a la Calvo and asymmetric information in the credit market. Rules are compared in a utility based welfare metric, the effects of the model’s nonlin
Number: 201
Date: Monday, March 1, 2004
Revision Date: Monday, March 1, 2004