Qin, Li; Spyromitros, Eleftherios; Sidiropoulos, Moïse - Bureau d'Économie Théorique et Appliquée (BETA), … - 2007
In this paper,we consider the transparency of monetary policy in a New Keynesian model with misspecification doubts. Model uncertainty allows us to identify a new source of central bank opacity, which refers to a lack of information about central bank’s preference for model robustness. Thus,...