Optimal and efficient monetary policy rules in a forward-looking model
β Scribed by Alfred V Guender
- Book ID
- 114130274
- Publisher
- Elsevier Science
- Year
- 2002
- Tongue
- English
- Weight
- 87 KB
- Volume
- 24
- Category
- Article
- ISSN
- 0164-0704
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π SIMILAR VOLUMES
## Abstract This paper characterizes a robust optimal policy rule in a simple forwardβlooking model, when the policymaker faces uncertainty about model parameters and shock processes. We show that the robust optimal policy rule is likely to involve a stronger response of the interest rate to fluctu
## Abstract In this paper we consider the implications of a fully specified dynamic general equilibrium model, developed by Smets and Wouters (2003). This is a relatively largeβscale forwardβlooking model, which was shown to provide a good fit to the data. We show that systematically accounting for