Monetary Policy in an Uncertain Environment

This paper discusses the nature of the uncertainty faced by central banks and considers three approaches to dealing with uncertainty(1) formal optimization models and robust rules based on such models; (2) informal rules like the Taylor rule and inflation targeting; and (3) a case by case approach based on an informal Bayesian logic. The latter case requires considering the asymmetric nature of the risks that the central bank often faces

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Year of publication:	[2021]
Authors:	Feldstein, Martin S.
Publisher:	[S.l.] : SSRN
Subject:	Geldpolitik \| Monetary policy \| Entscheidung unter Unsicherheit \| Decision under uncertainty \| Risiko \| Risk

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Extent:	1 Online-Ressource (13 p)
Series:	NBER Working Paper ; No. w9969
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments September 2003 erstellt
Source:	ECONIS - Online Catalogue of the ZBW

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