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On the relation between robust and Bayesian decision making
Adam, Klaus - 2003
This paper compares Bayesian decision theory with robust decision theory where the decision maker optimizes with respect to the worst state realization. For a class of robust decision problems there exists a sequence of Bayesian decision problems whose solution converges towards the robust...
Persistent link: https://www.econbiz.de/10009765345
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Robustly optimal monetary policy in a microfounded New Keynesian model
Adam, Klaus; Woodford, Michael - In: Journal of monetary economics 59 (2012) 5, pp. 468-487
Persistent link: https://www.econbiz.de/10009622326
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Robustly optimal monetary policy in a microfounded new keynesian model
Adam, Klaus; Woodford, Michael - 2012
of inflation and a suitably defined output gap, but that a concern for robustness requires greater resistance to surprise … increases in inflation than would be considered optimal if one could count on the private sector to have "rational expectations". …
Persistent link: https://www.econbiz.de/10011489843
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On the relation between robust and Bayesian decision making
Adam, Klaus - In: Journal of economic dynamics & control 28 (2004) 10, pp. 2105-2117
Persistent link: https://www.econbiz.de/10002100161
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On the relation between robust and Bayesian decision making
Adam, Klaus - 2003
Persistent link: https://www.econbiz.de/10001736235
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On the Relation Between Robust and Bayesian Decision Making
Adam, Klaus - 2004
This paper compares Bayesian decision theory with robust decision theory where the decision maker optimizes with respect to the worst state realization. For a class of robust decision problems there exists a sequence of Bayesian decision problems whose solution converges towards the robust...
Persistent link: https://www.econbiz.de/10014070197
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On the Relation between Robust and Bayesian Decision Making
Adam, Klaus - 2004
This paper compares Bayesian decision theory with robust decision theory where the decision maker optimizes with respect to the worst state realization. For a class of robust decision problems there exists a sequence of Bayesian decision problems whose solution converges towards the robust...
Persistent link: https://www.econbiz.de/10014093517
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Price Level Changes and the Redistribution of Nominal Wealth Across the Euro Area
Adam, Klaus; Zhu, Junyi - 2014
, and Belgium and Malta being the largest losers. Governments are net winners of inflation, while the household (HH) sector … Spain turn out to be net winners of inflation. Considerable heterogeneity exists also within the HH sector: relatively young … middle class HHs are net winners of inflation, while older and richer HHs are losers. As a result, wealth inequality for the …
Persistent link: https://www.econbiz.de/10010378324
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Price level changes and the redistribution of nominal wealth across the Euro Area
Adam, Klaus; Zhu, Junyi - 2014 - Preprint
, and Belgium and Malta being the largest losers. Governments are net winners of inflation, while the household (HH) sector … Spain turn out to be net winners of inflation. Considerable heterogeneity exists also within the HH sector: relatively young … middle class HHs are net winners of inflation, while older and richer HHs are losers. As a result, wealth inequality for the …
Persistent link: https://www.econbiz.de/10010385858
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Price level changes and the redistribution of nominal wealth across the Euro Area
Adam, Klaus; Zhu, Junyi - 2014
, and Belgium and Malta being the largest losers. Governments are net winners of inflation, while the household (HH) sector …, while HHs in Finland and Spain turn out to be net winners of inflation. Considerable heterogeneity exists also within the HH … sector: relatively young middle class HHs are net winners of inflation, while older and richer HHs are losers. As a result …
Persistent link: https://www.econbiz.de/10011490481