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Volumn 25, Issue 1, 2010, Pages 129-143

Welfare-maximizing monetary policy under parameter uncertainty

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EID: 74349125266     PISSN: 08837252     EISSN: 10991255     Source Type: Journal    
DOI: 10.1002/jae.1136     Document Type: Article
Times cited : (14)

References (20)
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    • Amato, J.1    Laubach, T.2
  • 3
    • 0001660667 scopus 로고
    • Uncertainty and the effectiveness of policy
    • Brainard WC. 1967. Uncertainty and the effectiveness of policy. American Economic Review 57: 411-425.
    • (1967) American Economic Review , vol.57 , pp. 411-425
    • Brainard, W.C.1
  • 4
    • 48749143178 scopus 로고
    • Staggered prices in a utility-maximizing framework
    • Calvo G. 1983. Staggered prices in a utility-maximizing framework. Journal of Monetary Economics 12: 383-398.
    • (1983) Journal of Monetary Economics , vol.12 , pp. 383-398
    • Calvo, G.1
  • 8
    • 0000198452 scopus 로고    scopus 로고
    • Technology, employment, and the business cycle: Do technology shocks explain aggregate fluctuations?
    • Galí J. 1999. Technology, employment, and the business cycle: do technology shocks explain aggregate fluctuations? American Economic Review 89: 249-271.
    • (1999) American Economic Review , vol.89 , pp. 249-271
    • Galí, J.1
  • 9
    • 0036002891 scopus 로고    scopus 로고
    • Does model uncertainty justify caution? Robust optimal monetary policy in a forward-looking model
    • Giannoni M. 2002. Does model uncertainty justify caution? Robust optimal monetary policy in a forward-looking model. Macroeconomic Dynamics 6: 111-144.
    • (2002) Macroeconomic Dynamics , vol.6 , pp. 111-144
    • Giannoni, M.1
  • 15
    • 33646820646 scopus 로고    scopus 로고
    • Monetary policy under uncertainty in micro-founded macroeconometric models
    • MIT Press: Cambridge, MA
    • Levin AT, Onatski A, Williams JC, Williams N. 2005. Monetary policy under uncertainty in micro-founded macroeconometric models. In NBER Macroeconomics Annual. MIT Press: Cambridge, MA; 229-289.
    • (2005) Nber Macroeconomics Annual , pp. 229-289
    • Levin, A.T.1    Onatski, A.2    Williams, J.C.3    Williams, N.4
  • 17
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    • Sticky prices in the United States
    • Rotemberg JJ. 1982. Sticky prices in the United States. Journal of Political Economy 90: 1187-1211.
    • (1982) Journal of Political Economy , vol.90 , pp. 1187-1211
    • Rotemberg, J.J.1
  • 18
    • 0345982186 scopus 로고    scopus 로고
    • An optimization-based econometric framework for the evaluation of monetary policy
    • MIT Press: Cambridge, MA
    • Rotemberg JJ, Woodford M. 1997. An optimization-based econometric framework for the evaluation of monetary policy. In NBER Macroeconomics Annual. MIT Press: Cambridge, MA; 297-346.
    • (1997) Nber Macroeconomics Annual , pp. 297-346
    • Rotemberg, J.J.1    Woodford, M.2
  • 19
    • 0035589533 scopus 로고    scopus 로고
    • Is the Fed too timid? Monetary policy in an uncertain world
    • Rudebusch GD. 2001. Is the Fed too timid? Monetary policy in an uncertain world. Review of Economics and Statistics 83: 203-217.
    • (2001) Review of Economics and Statistics , vol.83 , pp. 203-217
    • Rudebusch, G.D.1
  • 20
    • 77957241272 scopus 로고    scopus 로고
    • An estimated stochastic dynamic general equilibrium model of the euro area
    • Smets F, Wouters R. 2003. An estimated stochastic dynamic general equilibrium model of the euro area. Journal of the European Economic Association 1: 1123-1175.
    • (2003) Journal of The European Economic Association , vol.1 , pp. 1123-1175
    • Smets, F.1    Wouters, R.2


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