Monetary Policy under Uncertainty: Historical Origins, Theoretical Foundations, and Empirical Evidence

✍ Scribed by Oliver Sauter (auth.)

• Publisher: Gabler Verlag
• Year: 2014
• Tongue: English
• Leaves: 223
• Edition: 1
• Category: Library

✦ Synopsis

Oliver Sauter analyzes three aspects of monetary policy under uncertainty. First he shows that the terms risk and uncertainty are often wrongly used as synonyms despite their different meanings. The second aspect is the proper examination and incorporation of uncertainty into a monetary policy framework. The author undertakes systematization with a closer look at each identified form of uncertainty. Thirdly, he focuses on the quantification of uncertainty from two different perspectives, either from a market perspective or from a central bank perspective.

✦ Table of Contents

Front Matter....Pages 1-19
Front Matter....Pages 7-7
Concepts of Uncertainty in Economic Literature....Pages 9-35
Front Matter....Pages 37-37
Effects of Uncertainty on the Policy Design....Pages 39-82
Implementing Uncertainty into Monetary Models....Pages 83-141
Front Matter....Pages 143-143
Assessing Uncertainty in the Euro Area and the USA....Pages 145-175
Communicated Uncertainty of the ECB....Pages 177-197
Back Matter....Pages 199-221

✦ Subjects

Economic Policy; Economic Theory; Economics general