Performance of monetary policy with internal central bank forecasting

Recent models of monetary policy have analyzed the desirability of different optimal and ad hoc interest rules under the restrictive assumption that forecasts of the private sector and the central bank are homogenous. In this paper, we study the implications of heterogeneity in forecasts of the central bank and private agents for the performance of interest rules from the learning viewpoint. JEL Classification: E52, E31, D84

MoreLess

Year of publication:	2002-02
Authors:	Honkapohja, Seppo ; Mitra, Kaushik
Institutions:	European Central Bank
Subject:	Adaptive learning \| heterogeneity \| monetary policy \| stability

freely available

Full text |

More access options

Check Google Scholar

In German libraries (KVK)

I need help

More details

Extent:	application/pdf
Series:	Working Paper Series.
Type of publication:	Book / Working Paper
Language:	German
Notes:	Number 0127
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005816298