Search Results

No results found.

(refine search)
Keywords:Stochastic simulation 

Working Paper
Some Implications of Uncertainty and Misperception for Monetary Policy

When choosing a strategy for monetary policy, policymakers must grapple with mismeasurement of labor market slack, and of the responsiveness of price inflation to that slack. Using stochastic simulations of a small-scale version of the Federal Reserve Board?s principal New Keynesian macroeconomic model, we evaluate representative rule-based policy strategies, paying particular attention to how those strategies interact with initial conditions in the U.S. as they are seen today and with the current outlook. To do this, we construct a current relevant baseline forecast, one that is loosely ...
Finance and Economics Discussion Series , Paper 2018-059

FILTER BY Content Type

FILTER BY Jel Classification

C63 1 items

E31 1 items

E32 1 items

E52 1 items

FILTER BY Keywords