Pitfalls of a minimax approach to model uncertainty

American Economic Review

Volumn 91, Issue 2, 2001, Pages 51-54

  Sims, Christopher A ^a  

^a PRINCETON UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 34247330158     PISSN: 00028282     EISSN: None     Source Type: Journal    
DOI: 10.1257/aer.91.2.51     Document Type: Conference Paper

References (10)

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2. Chamberlain, Gary. "Econometric Applications of Maxmin Expected Utility." Discussion paper, Harvard University, June 2000.
3. Collard, Fabrice and Juillard, Michel. "Perturbation Methods for Rational Expectations Models." Technical report, CEPREMAP, Paris, August 2000. [Available online: (fabrice.collard@cepremap. cnrs.fr).]
4. Giannoni, Marc P. "Does Model Uncertainty Justify Caution? Robust Optimal Monetary Policy in a Forward-Looking Model." Discussion paper, Princeton University, November 1999.
5. Gilboa, Itzhak and Schmeidler, David. "Maxmin Expected Utility with Non-unique Prior." Journal of Mathematical Economics, 1989, 18(2), pp. 141-53.
6. Hansen, Lars Peter and Sargent, Thomas J. "Robust Control and Filtering of Forward-Looking Models." Discussion paper, Stanford University, October 2000.
7. Kim, Jinill and Kim, Sunghyun. "Spurious Welfare Reversals in International Business Cycle Models." Technical report, Brandeis University, 1999. [Available online: (http://www.people.virginia.edu/jk9n/).]
8. Onatski, Alexei and Stock, James H. "Robust Monetary Policy under Model Uncertainty in a Small Model of the U. S. Economy." Unpublished manuscript, Harvard University, February 1999.
9. Rudebusch, Glenn D. "Is the Fed Too Timid? Monetary Policy in an Uncertain World." Technical report, Federal Reserve Bank of San Francisco, October 1998.
10. Sims, Christopher A. "Second Order Accurate Solution of Discrete Time Dynamic Equilibrium Models." Discussion paper, Princeton University, August 2000. [Available online: (eco-072399b.princeton. edu/gensys2/).]