Optimal control in the New Keynesian model with monetary and fiscal policy interactions

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Optimal control in the New Keynesian model with monetary and fiscal policy interactions. / Alexeeva, T. A.; Kuznetsov, N. V.; Mokaev, T. N.; Polshchikova, I. A.

в: Journal of Physics: Conference Series, Том 1864, № 1, 012040, 20.05.2021.

Результаты исследований: Научные публикации в периодических изданиях › статья в журнале по материалам конференции › Рецензирование

BibTeX

@article{d3501260d05b4483aac2da4307427a17,

title = "Optimal control in the New Keynesian model with monetary and fiscal policy interactions",

abstract = "Dynamics of the New Keynesian model in continuous time with the Rotemberg pricing mechanism is considered within a framework of an optimal control problem. Various regimes of monetary and fiscal policy ('active' and 'passive') can lead to unstable dynamics in the economy. Parameters of the Taylor rules for both monetary and fiscal policies determine conditions for local equilibrium determinacy. Mapping out the ranges of the Taylor coefficient values where local determinacy cannot be obtained allows to control the economic system by controlling these parameters.",

author = "Alexeeva, {T. A.} and Kuznetsov, {N. V.} and Mokaev, {T. N.} and Polshchikova, {I. A.}",

note = "Publisher Copyright: {\textcopyright} Published under licence by IOP Publishing Ltd. Copyright: Copyright 2021 Elsevier B.V., All rights reserved.; 13th Multiconference on Control Problems, MCCP 2020 ; Conference date: 06-10-2020 Through 08-10-2020",

year = "2021",

month = may,

day = "20",

doi = "10.1088/1742-6596/1864/1/012040",

language = "English",

volume = "1864",

journal = "Journal of Physics: Conference Series",

issn = "1742-6588",

publisher = "IOP Publishing Ltd.",

number = "1",

url = "http://www.elektropribor.spb.ru/nauchnaya-deyatelnost/xiii-mkpu/index3.php",

}

RIS

TY - JOUR

T1 - Optimal control in the New Keynesian model with monetary and fiscal policy interactions

AU - Alexeeva, T. A.

AU - Kuznetsov, N. V.

AU - Mokaev, T. N.

AU - Polshchikova, I. A.

N1 - Conference code: 13

PY - 2021/5/20

Y1 - 2021/5/20

N2 - Dynamics of the New Keynesian model in continuous time with the Rotemberg pricing mechanism is considered within a framework of an optimal control problem. Various regimes of monetary and fiscal policy ('active' and 'passive') can lead to unstable dynamics in the economy. Parameters of the Taylor rules for both monetary and fiscal policies determine conditions for local equilibrium determinacy. Mapping out the ranges of the Taylor coefficient values where local determinacy cannot be obtained allows to control the economic system by controlling these parameters.

AB - Dynamics of the New Keynesian model in continuous time with the Rotemberg pricing mechanism is considered within a framework of an optimal control problem. Various regimes of monetary and fiscal policy ('active' and 'passive') can lead to unstable dynamics in the economy. Parameters of the Taylor rules for both monetary and fiscal policies determine conditions for local equilibrium determinacy. Mapping out the ranges of the Taylor coefficient values where local determinacy cannot be obtained allows to control the economic system by controlling these parameters.

UR - http://www.scopus.com/inward/record.url?scp=85107431260&partnerID=8YFLogxK

U2 - 10.1088/1742-6596/1864/1/012040

DO - 10.1088/1742-6596/1864/1/012040

M3 - Conference article

AN - SCOPUS:85107431260

VL - 1864

JO - Journal of Physics: Conference Series

JF - Journal of Physics: Conference Series

SN - 1742-6588

IS - 1

M1 - 012040

T2 - 13th Multiconference on Control Problems, MCCP 2020

Y2 - 6 October 2020 through 8 October 2020

ER -

ID: 78767994