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by using the generalized Schur decomposition method. Furthermore, we determine the optimal unrestricted and restricted …. -- Anticipated Shocks ; Optimal Monetary Policy ; Rational Expectations ; Generalized Schur Decomposition ; Welfare Effects …
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generalized Schur decomposition method. We also determine the optimal unrestricted and restricted policy responses to temporary as …
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This paper investigates optimal policy in the presence of anticipated (or news) shocks. We determine the optimal unrestricted and restricted policy response in a general rational expectations model and show that, if shocks are news shocks, the optimal unrestricted control rule under commitment...
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by using the generalized Schur decomposition method. Furthermore, we determine the optimal unrestricted and restricted …. -- Anticipated Shocks ; Optimal Monetary Policy ; Rational Expectations ; Generalized Schur Decomposition ; Welfare Effects …
Persistent link: https://www.econbiz.de/10003827176