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Monetary policy, parameter uncertainty and optimal learning

✍ Scribed by Volker Wieland


Book ID
114220516
Publisher
Elsevier Science
Year
2000
Tongue
English
Weight
425 KB
Volume
46
Category
Article
ISSN
0304-3932

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## Abstract This paper examines welfare‐maximizing monetary policy in an estimated micro‐founded general equilibrium model of the US economy where the policymaker faces uncertainty about model parameters. Uncertainty about parameters describing preferences and technology implies uncertainty about t