stability under private agent learning.Appropriately designed expectations based rules can yield optimal rational expectations …

stability under learning. Appropriately designed expectations-based rules can yield optimal rational expectations equilibria …

stability under private agent learning. Appropriately designed expectations based rules can yield optimal rational expectations …

stability under private agent learning. Appropriately designed expectations based rules can yield optimal rational expectations …

This is a revised and shortened version of Working Paper 2002-11. Commitment in monetary policy leads to equilibria … rules have been proposed to implement or approximate commitment policy. We assess these rules in terms of whether they lead …

Commitment in monetary policy leads to equilibria that are superior to those from optimal discretionary policies. A … number of interest rate reaction functions and instrument rules have been proposed to implement or approxmiate commitment …

We consider the robust stability of a rational expectations equilibrium, which we define as stability under discounted … exhibit robust stability. We consider a variety of interest-rate rules, including instrument rules, optimal reaction functions … under discretion or commitment, and rules that approximate optimal policy under commitment. For some reaction functions we …

We consider “robust stability†of a rational expectations equilibrium, which we define as stability under discounted … exhibit robust stability. We consider a variety of interest-rate rules, including instrument rules, optimal reaction functions … under discretion or commitment, and rules that approximate optimal policy under commitment. For some reaction functions we …

We consider "robust stability" of a rational expectations equilibrium, which we define as stability under discounted … exhibit robust stability. We consider a variety of interest-rate rules, including instrument rules, optimal reaction functions … under discretion or commitment, and rules that approximate optimal policy under commitment. For some reaction functions we …

We consider the robust stability of a rational expectations equilibrium, which we define as stability under discounted … exhibit robust stability. We consider a variety of interest-rate rules, including instrument rules, optimal reaction functions … under discretion or commitment, and rules that approximate optimal policy under commitment. For some reaction functions we …