Eser, Fabian; Leith, Campbell B.; Wren-Lewis, Simon - 2009
the Centre for Economic
Policy, LSE, HM Treasury, St Andrews, and Oxford Universities, a Money Macro and Finance workshop … case where monetary policy is optimal and unconstrained seems like a natural starting
point for analysis.
2 Baseline Model … to zero. However, in a world
of sticky prices and wages it is not possible to achieve this allocation in the face of …