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Optimal monetary policy with Balassa–Samuelson-type productivity shocks

✍ Scribed by Igor Masten

Book ID
116619546
Publisher
Elsevier Science
Year
2008
Tongue
English
Weight
945 KB
Volume
36
Category
Article
ISSN
0147-5967

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Robust optimal monetary policy in a forw
Robust optimal monetary policy in a forward-looking model with parameter and shock uncertainty
✍ Marc P. Giannoni 📂 Article 📅 2007 🏛 John Wiley and Sons 🌐 English ⚖ 315 KB

## Abstract This paper characterizes a robust optimal policy rule in a simple forward‐looking 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