TY - BOOK AU - Galí,Jordi AU - López-Salido,J.David AU - Vallés,Javier TI - Rule-of-thumb consumers and the design of interest rate rules / T2 - Servicio de estudios, SN - 0213-2710 AV - HC 381 .A5 no. 200320 PY - 2003/// CY - Madrid : PB - Banco de España, KW - Consumidores KW - Política monetaria N1 - 1. Introduction, 7 --; 2. A new Keynesian model with rule-of thumb consumers, 9 --; 3. Analysis of equilibrium dynamics, 16 --; 4. A forward-looking rule, 21 --; 5. Concluding remarks, 23 --; Appendix 1. Steady state analysis, 26 --; Appendix 2. Rewriting the Euler equation in terms of aggregate variables, 27 --; Appendix 3. Derivation of the reduced dynamical system, 29 --; Appendix 4. A backward looking rule, 31 --; References, 33 ER -