Monetary Policy Rules in a Search Model of the Labor Market

Borradores de Economia
Número: 
221
Publicado: 
Clasificación JEL: 
E52, E58, E31
Palabras clave: 
Monetary policy

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This paper studies the performance, in terms of volatility and welfare, of different monetary policy rules in an economy with two market frictions. We consider a financial friction that highlights the credit channel as the monetary transmission mechanism