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Interest Rate Pegs, Wealth Effects and Price Level Determinacy


Barbara Annicchiarico


University of Rome II - Department of Economics and Law

Giancarlo Marini


University of Rome II - Faculty of Economics

Metroeconomica, Vol. 57, No. 4, pp. 521-535, November 2006

Abstract:     
This paper analyses the issue of price level determinacy in an optimizing general equilibrium model with overlapping generations. It is shown that under a pure interest rate peg wealth effects rule out nominal indeterminacy but give rise to multiple equilibria.

Number of Pages in PDF File: 15

Accepted Paper Series


Date posted: November 13, 2006  

Suggested Citation

Annicchiarico, Barbara and Marini, Giancarlo, Interest Rate Pegs, Wealth Effects and Price Level Determinacy. Metroeconomica, Vol. 57, No. 4, pp. 521-535, November 2006. Available at SSRN: http://ssrn.com/abstract=944271 or http://dx.doi.org/10.1111/j.1467-999X.2006.00254.x

Contact Information

Barbara Annicchiarico (Contact Author)
University of Rome II - Department of Economics and Law ( email )
Rome, I-00133
Italy
Giancarlo Marini
University of Rome II - Faculty of Economics ( email )
Via Columbia n.2
Rome, 00100
Italy
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