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How Should Monetary Policy Deal With Uncertainty?
Manage episode 388291848 series 3304320
We discuss how various forms of uncertainty affect the conduct of optimal monetary policy. We provide a summary of key insights from the academic literature, some of which are quite surprising. We explain how to make sense of them.
We make reference to the following academic papers:
Indicator variables for optimal policy, LEO Svensson, M Woodford - Journal of Monetary Economics, 2003 https://www.sciencedirect.com/science/article/pii/S0304393203000308
Indicator variables for optimal policy under asymmetric information, LEO Svensson, M Woodford, Journal of Economic Dynamics and Control
Volume 28, Issue 4, January 2004, Pages 661-690
https://www.sciencedirect.com/science/article/pii/S0165188903000393
The learning cost of interest rate reversals, Martin Ellison, Journal of Monetary Economics, Volume 53, Issue 8, November 2006, Pages 1895-1907
https://www.sciencedirect.com/science/article/pii/S0304393206001498
100 episodes
Manage episode 388291848 series 3304320
We discuss how various forms of uncertainty affect the conduct of optimal monetary policy. We provide a summary of key insights from the academic literature, some of which are quite surprising. We explain how to make sense of them.
We make reference to the following academic papers:
Indicator variables for optimal policy, LEO Svensson, M Woodford - Journal of Monetary Economics, 2003 https://www.sciencedirect.com/science/article/pii/S0304393203000308
Indicator variables for optimal policy under asymmetric information, LEO Svensson, M Woodford, Journal of Economic Dynamics and Control
Volume 28, Issue 4, January 2004, Pages 661-690
https://www.sciencedirect.com/science/article/pii/S0165188903000393
The learning cost of interest rate reversals, Martin Ellison, Journal of Monetary Economics, Volume 53, Issue 8, November 2006, Pages 1895-1907
https://www.sciencedirect.com/science/article/pii/S0304393206001498
100 episodes
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