Gomes, Orlando; Mendes, Vivaldo M.; Mendes, Diana A.; … - arXiv.org - 2006
There is by now a large consensus in modern monetary policy. This consensus has been built upon a dynamic general equilibrium model of optimal monetary policy as developed by, e.g., Goodfriend and King (1997), Clarida et al. (1999), Svensson (1999) and Woodford (2003). In this paper we extend...