MARC details
| 000 -LEADER |
|---|
| fixed length control field |
01482nab a2200205 4500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
|---|
| fixed length control field |
160416b xxu||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME |
|---|
| Personal name |
Goyal, Ashima |
| 245 ## - TITLE STATEMENT |
|---|
| Title |
Stability and Transitions in Emerging Market Policy Rules |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) |
|---|
| Place of publication, distribution, etc |
|
| Name of publisher, distributor, etc |
|
| Date of publication, distribution, etc |
|
| 300 ## - PHYSICAL DESCRIPTION |
|---|
| Extent |
153-172p. |
| 520 ## - SUMMARY, ETC. |
|---|
| Summary, etc |
Conditions for stability in an open economy dynamic stochastic general equilibrium model adapted to a dualistic labor market (SOEME) are the same as for a mature economy. But the introduction of monetary policy transmission lags makes it deviate from the Taylor Principle. Under rational expectations a policy rule is unstable, but under adaptive expectations traditional stabilization gives a determinate path, with weights on the objective of less than unity. Estimation of a Taylor rule for India and optimization in the SOEME model itself, all confirm the low weights. The results imply that under rational expectations, optimization is better than following a rule. If backward looking behavior dominates, however, a policy rule can prevent overshooting and instability. Economy-specific rigidities must inform policy design, and the appropriate design will change as the economy develops.<br/> |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name as entry element |
DSGE |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name as entry element |
Emerging Market |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name as entry element |
Rigidities |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name as entry element |
Stability |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name as entry element |
Optimization |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name as entry element |
Taylor Rule |
| 773 0# - HOST ITEM ENTRY |
|---|
| Host Biblionumber |
39954 |
| Place, publisher, and date of publication |
India: Delhi School of Economics, |
| Other item identifier |
S84045 |
| Title |
Indian Economic Review 49(2) Jul- Dec 2014 |
| International Standard Serial Number |
0019-4670 |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) |
|---|
| Source of classification or shelving scheme |
Dewey Decimal Classification |
| Item type |
Articles |
