Search Results

No results found.

(refine search)
SORT BY: PREVIOUS / NEXT
Keywords:recursive methods 

Working Paper
Optimal monetary policy under model uncertainty without commitment

This paper studies the design of optimal time-consistent monetary policy in an economy where the planner trusts its own model, while a representative household uses a set of alternative probability distributions governing the evolution of the exogenous state of the economy. In such environments, unlike in the original studies of time-consistent monetary policy, managing households' expectations becomes an active channel of optimal policymaking per se, a feature that the paternalistic government seeks to exploit. We adapt recursive methods in the spirit of Abreu, Pearce, and Stacchetti (1990) ...
Working Papers , Paper 13-20

FILTER BY Bank

FILTER BY Series

FILTER BY Content Type

FILTER BY Author

FILTER BY Jel Classification

C61 1 items

D81 1 items

E52 1 items

E61 1 items

FILTER BY Keywords

PREVIOUS / NEXT