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Trend Growth and Learning About Monetary Policy Rules in a Two-Block World Economy

Schaling, Eric; Tesfaselassie, Mewael F. - Institut für Weltwirtschaft (IfW) - 2013

Available evidence supports the view that growth is faster in more open economies. In order to analyze the implications of openness and growth on determinacy and learnability of worldwide rational expectations equilibria we develop a two-country New Keynesian model with growth. We analyze these...

Persistent link: https://www.econbiz.de/10010886862

On determinacy and learnability in a New Keynesian model with unemployment

Tesfaselassie, Mewael F.; Schaling, Eric - 2009

We analyze determinacy and stability under learning (E-stability) of rational expectations equilibria in the Blanchard …

Persistent link: https://www.econbiz.de/10010265227

Managing disinflation under uncertainty

Tesfaselassie, Mewael F.; Schaling, Eric - 2008

learning (DOP) and compare it two limiting cases---certainty equivalence policy (CEP) and cautionary policy (CP). It turns out … learning (DOP) and compare it two limiting cases---certainty equivalence policy (CEP) and cautionary policy (CP). It turns out … CEP, at low levels of inherited inflation the DOP resembles the CP. -- Learning ; inflation expectations ; disinflation …

Persistent link: https://www.econbiz.de/10010265530

Learning about the term structure and optimal rules for inflation targeting

Tesfaselassie, Mewael F.; Schaling, Eric; Eijffinger, … - 2006

active learning possibilities has effects on the optimal interest rate rule followed by the central bank.For a wide range of …

Persistent link: https://www.econbiz.de/10010273990

Trend growth and learning about monetary policy rules in a two-block world economy

Schaling, Eric; Tesfaselassie, Mewael F. - 2013

Persistent link: https://www.econbiz.de/10010292721

Managing Disinflation under Uncertainty

Tesfaselassie, Mewael F.; Schaling, Eric - Institut für Weltwirtschaft (IfW) - 2008

learning (DOP) and compare it two limiting cases---certainty equivalence policy (CEP) and cautionary policy (CP). It turns out …

Persistent link: https://www.econbiz.de/10005755117

Learning About the Term Structure and Optimal Rules for Inflation Targeting

Eijffinger, Sylvester C W; Schaling, Eric; … - C.E.P.R. Discussion Papers - 2006

active learning possibilities has effects on the optimal interest rate rule followed by the central bank. For a wide range of …

Persistent link: https://www.econbiz.de/10005791711

Why Speed Doesnâ€™t Kill: Learning to Believe in Disinflation

Schaling, Eric; Hoeberichts, Marco - Economic Research Southern Africa (ERSA) - 2010

Central bankers generally prefer to reduce inflation gradually. We show that a central bank may try to convince the private sector of its commitment to price stability by choosing to reduce inflation quickly. We call this "teaching by doing". We find that allowing for teaching by doing effects...

Persistent link: https://www.econbiz.de/10008562409

Managing Disinflation under Uncertainty

Tesfaselassie, Mewael F.; Schaling, Eric - Economic Research Southern Africa (ERSA) - 2009

output gap. This differs from other studies on learning and control in a monetary policy context (e.g. Ellison (2006) and … central bank's optimal disinflation strategy under active learning (DOP) and compare it with two limiting cases - certainty … equivalence policy (CEP), or passive learning, and a Brainard-style cautionary monetary policy (CP). It turns out that under the …

Persistent link: https://www.econbiz.de/10008563334

Why Speed Doesn’t Kill: Learning to Believe in Disinflation

Schaling, Eric; Hoeberichts, Marco - In: De Economist 158 (2010) 1, pp. 23-42

Persistent link: https://www.econbiz.de/10008470291