model averaging in policy design. Interestingly, a simple difference rule with the same coefficients on inflation and output …

Eine aktive Stabilisierung realwirtschaftlicher Fluktuationen spielt eine zentrale Rolle für die Geldpolitik, wenn … hinsichtlich der Persistenz von Output und Inflation realitätsnäher abgebildet werden können. Insbesondere jedoch erweist sich im …

desirable as they hinder the ability of governments to smooth distortions. Allowing for the effective use of inflation during …

economic activity, inflation and government debt in face of an occasionally binding lower bound on the nominal interest rate in … policy, the optimal fiscal policy rule features a strong counter-cyclical response to the deviation of inflation from the … inflation significantly improves welfare and reduces the lower-bound frequency. In addition, the optimal simple monetary and …

economic activity, inflation and government debt in face of an occasionally binding lower bound on the nominal interest rate in … policy, the optimal fiscal policy rule features a strong counter-cyclical response to the deviation of inflation from the … inflation significantly improves welfare and reduces the lower-bound frequency. In addition, the optimal simple monetary and …