Timing and real indeterminacy in monetary models

By Charles T. Carlstrom, T. Fuerst. 2001

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Multiple-solution indeterminacies in monetary policy analysis (2003, methodology): “This case was introduced by Woodford (1994), and has since been discussed by many analysts including Bernanke and Woodford (1997), Kerr and King (1996), King (2000), Carlstrom and Fuerst (2001), and Bullard and Mitra (2002).”
Monetary Policy Rules for an Open Economy (2003, background): “As suggested by Carlstrom and Fuerst (1999), entering money balances as defined in (4) in the utility function, gives a better measure of period utility; one in which we account exclusively for the services of balances that are actually available to households when spending decisions are taken.”
Openness and Inflation (2010, unknown): “The solution to the households problem maximizes utility (3), subject to conditional labour demand, the period budget constraint (2) and a no-ponzi game condition.”