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Author : Carlo A. Favero
Release : 2001
Genre :
Kind : eBook
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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. This book was released on 2001. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Richard T. Froyen
Release : 2019
Genre : Mathematical optimization
Kind : eBook
Book Rating : 193/5 ( reviews)
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. This book was released on 2019. 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.
Author : Carlo A. Favero
Release : 2005
Genre : Econometric models
Kind : eBook
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Book Synopsis Parameter Instability, Model Uncertainty and the Choice of Monetary Policy by : Carlo A. Favero
Download or read book Parameter Instability, Model Uncertainty and the Choice of Monetary Policy written by Carlo A. Favero. This book was released on 2005. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Marc Paolo Giannoni
Release : 2001
Genre :
Kind : eBook
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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. This book was released on 2001. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Lars E. O. Svensson
Release : 2005
Genre : Economic forecasting
Kind : eBook
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Book Synopsis Monetary Policy with Model Uncertainty by : Lars E. O. Svensson
Download or read book Monetary Policy with Model Uncertainty written by Lars E. O. Svensson. This book was released on 2005. Available in PDF, EPUB and Kindle. Book excerpt: "We examine optimal and other monetary policies in a linear-quadratic setup with a relatively general form of model uncertainty, so-called Markov jump-linear-quadratic systems extended to include forward-looking variables. The form of model uncertainty our framework encompasses includes: simple i.i.d. model deviations; serially correlated model deviations; estimable regime-switching models; more complex structural uncertainty about very different models, for instance, backward- and forward-looking models; time-varying central-bank judgment about the state of model uncertainty; and so forth. We provide an algorithm for finding the optimal policy as well as solutions for arbitrary policy functions. This allows us to compute and plot consistent distribution forecasts---fan charts---of target variables and instruments. Our methods hence extend certainty equivalence and "mean forecast targeting" to more general certainty non-equivalence and "distribution forecast targeting.""--National Bureau of Economic Research web site
