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Simple Monetary Policy Rules Under Model Uncertainty

✍ Scribed by Isard, Peter; Laxton, Douglas; Eliasson, Ann-Charlotte


Book ID
110267205
Publisher
Springer
Year
1999
Tongue
English
Weight
431 KB
Volume
6
Category
Article
ISSN
0927-5940

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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