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Optimal Monetary Policy With Uncertainty
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Book Synopsis Optimal Monetary Policy under Uncertainty, Second Edition by : Richard T. Froyen
Download or read book Optimal Monetary Policy under Uncertainty, Second Edition written by Richard T. Froyen and published by Edward Elgar Publishing. This book was released on 2019 with total page 466 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a thorough survey of the model-based literature on optimal monetary in a stochastic setting. The survey begins with the literature of the 1970s which focused on the information problem in policy design and extends to the New Keynesian approach of the 1990s which centered on evaluating alternative targeting strategies. New to the second edition is consideration of research since the world financial crisis on the role of financial markets and institutions in the conduct of monetary policy.
Book Synopsis Optimal Monetary Policy Under Uncertainty by : Richard T. Froyen
Download or read book Optimal Monetary Policy Under Uncertainty written by Richard T. Froyen and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Optimal Monetary Policy with Uncertainty by : Roger Craine
Download or read book Optimal Monetary Policy with Uncertainty written by Roger Craine and published by . This book was released on 1977 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Optimal Monetary Policy Under Model Uncertainty Without Commitment by : Anna Orlik
Download or read book Optimal Monetary Policy Under Model Uncertainty Without Commitment written by Anna Orlik and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Optimal Monetary Policy with Uncertainty about Financial Frictions by : Richhild Moessner
Download or read book Optimal Monetary Policy with Uncertainty about Financial Frictions written by Richhild Moessner and published by . This book was released on 2006 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Optimal Monetary Policy in a Micro-founded Model with Parameter Uncertainty by : Takeshi Kimura
Download or read book Optimal Monetary Policy in a Micro-founded Model with Parameter Uncertainty written by Takeshi Kimura and published by . This book was released on 2003 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Model Uncertainty and Optimal Monetary Policy by : Marc Paolo Giannoni
Download or read book Model Uncertainty and Optimal Monetary Policy written by Marc Paolo Giannoni and published by . This book was released on 2001 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Uncertainty, Robust Control and Optimal Monetary Policy Design by : Li Qin
Download or read book Uncertainty, Robust Control and Optimal Monetary Policy Design written by Li Qin and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Parameters' Instability, Model Uncertainty and Optimal Monetary Policy by : Carlo A. Favero
Download or read book Parameters' Instability, Model Uncertainty and Optimal Monetary Policy written by Carlo A. Favero and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Model Uncertainty, Optimal Monetary Policy and the Preferences of the Fed by : Efrem Castelnuovo
Download or read book Model Uncertainty, Optimal Monetary Policy and the Preferences of the Fed written by Efrem Castelnuovo and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Optimal Monetary Policy Under Bounded Rationality by : Jonathan Benchimol
Download or read book Optimal Monetary Policy Under Bounded Rationality written by Jonathan Benchimol and published by International Monetary Fund. This book was released on 2019-08-02 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: The form of bounded rationality characterizing the representative agent is key in the choice of the optimal monetary policy regime. While inflation targeting prevails for myopia that distorts agents' inflation expectations, price level targeting emerges as the optimal policy under myopia regarding the output gap, revenue, or interest rate. To the extent that bygones are not bygones under price level targeting, rational inflation expectations is a minimal condition for optimality in a behavioral world. Instrument rules implementation of this optimal policy is shown to be infeasible, questioning the ability of simple rules à la Taylor (1993) to assist the conduct of monetary policy. Bounded rationality is not necessarily associated with welfare losses.
Book Synopsis Real-time Optimal Monetary Policy with Undistinguishable Model Parameters and Shock Processes Uncertainty by :
Download or read book Real-time Optimal Monetary Policy with Undistinguishable Model Parameters and Shock Processes Uncertainty written by and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Optimal Fiscal Adjustment under Uncertainty by : Rossen Rozenov
Download or read book Optimal Fiscal Adjustment under Uncertainty written by Rossen Rozenov and published by International Monetary Fund. This book was released on 2016-03-17 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper offers a non-probabilistic framework for representation of uncertainty in the context of a simple linear-quadratic model of fiscal adjustment. Instead of treating model disturbances as random variables with known probability distributions, it is only assumed that they belong to some pre-specified compact set. Such an approach is appropriate when the decision maker does not have enough information to form probabilistic beliefs or when considerations for robustness are important. Solution of the model in the minimax sense when disturbance sets are ellipsoids is obtained and the application of the method is illustrated using the example of Portugal.
Book Synopsis Inflation Risk and Optimal Monetary Policy by : William T. Gavin
Download or read book Inflation Risk and Optimal Monetary Policy written by William T. Gavin and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper shows that the optimal monetary policies recommended by New Keynesian models still imply a large amount of inflation risk. We calculate the term structure of inflation uncertainty in New Keynesian models when the monetary authority adopts the optimal policy--the policy that minimizes the gap between output in the New Keynesian model and output in a flexible wage and price model. When the monetary policy rules are modified to include a small weight on a price path, the economy achieves equilibria with substantially lower long-run inflation risk. With sticky prices, the price path target reduces long-run inflation uncertainty with no measurable increase in the variability of the output gap. With sticky wages, a tradeoff exists between short-run output stabilization and long-run inflation risk"--Federal Reserve Bank of St. Louis web site.
Book Synopsis Optimal Monetary Policy Under Uncertainty in Dsge Amodels by : Lars E.O. Svensson
Download or read book Optimal Monetary Policy Under Uncertainty in Dsge Amodels written by Lars E.O. Svensson and published by . This book was released on 2008 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Interest-rate Smoothing and Optimal Monetary Policy by : Brian Sack
Download or read book Interest-rate Smoothing and Optimal Monetary Policy written by Brian Sack and published by . This book was released on 1999 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Robust Optimal Policy in a Forward-looking Model with Parameter and Shock Uncertainty by : Marc Paolo Giannoni
Download or read book Robust Optimal Policy in a Forward-looking Model with Parameter and Shock Uncertainty written by Marc Paolo Giannoni and published by . This book was released on 2006 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 fluctuations in inflation and the output gap than is the case in the absence of uncertainty. Thus parameter uncertainty alone does not necessarily justify a small response of monetary policy to perturbations. However uncertainty may amplify the degree of "super-inertia" required by optimal monetary policy. We finally discuss the sensitivity of the results to alternative assumptions.
