Testing for indeterminacy: An application to U.S. monetary policy: Comment

American Economic Review

Volumn 97, Issue 1, 2007, Pages 524-529

  Beyer, Andreas ^a   Farmer, Roger E A ^b  

^a EUROPEAN CENTRAL BANK   (Germany)

^b UNIVERSITY OF CALIFORNIA   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 35448937270     PISSN: 00028282     EISSN: None     Source Type: Journal    
DOI: 10.1257/aer.97.1.524     Document Type: Note

References (10)

1. Benhabib, Jess, and Roger E. A. Farmer. 1994. "Indeterminacy and Increasing Returns." Journal of Economic Theory, 63(1): 19-41.
2. Beyer, Andreas, and Roger Farmer. 2004. "On the Indeterminacy of New-Keynesian Economics." European Central Bank, Working Paper 323.
3. Clarida, Richard, Jordi Gali, and Mark Gertler. 2000. "Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory." Quarterly Journal of Economics, 115(1): 147-80.
4. Cole, Harold L., and Lee E. Ohanian. 1999. "Aggregate Returns to Scale: Why Measurement Is Imprecise." Federal Reserve Bank of Minneapolis Quarterly Review, 23(3): 19-28.
5. Farmer, Roger E. A., and Jang-Ting Guo. 1994. "Real Business Cycles and the Animal Spirits Hypothesis." Journal of Economic Theory, 63(1): 42-72.
6. Farmer, Roger E. A., and Jang-Ting Guo. 1995. "The Econometrics of Indeterminacy: An Applied Study." Carnegie-Rochester Conference Series on Public Policy, 43: 225-71.
7. Kamihigashi, Takashi. 1996. "Real Business Cycles and Sunspot Fluctuations Are Observationally Equivalent." Journal of Monetary Economics, 37(1): 105-17.
8. Lubik, Thomas A., and Frank Schorfheide. 2004. "Testing for Indeterminacy: An Application to U.S. Monetary Policy." American Economic Review, 94(1): 190-217.
9. Pesaran, M. Hashem. 1987. The Limits to Rational Expectations. Oxford and New York: Blackwell.
10. Sims, Christopher A. 2002. "Solving Linear Rational Expectations Models." Computational Economics, 20(1-2): 1-20.