Anticipated alternative policy rate paths in policy simulations

International Journal of Central Banking

Volumn 7, Issue 3, 2011, Pages 1-35

  Laséen, Stefan ^a   Svensson, Lars E O ^a,b  

^a SVERIGES RIKSBANK   (Sweden)

^b STOCKHOLM UNIVERSITY   (Sweden)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 80052555458     PISSN: 18154654     EISSN: 18157556     Source Type: Journal    
DOI: None     Document Type: Article

References (28)

1. Adolfson, M., S. Laséen, J. Lindé, and L. E. O. Svensson. 2011. "Optimal Monetary Policy in an Operational Medium-Sized DSGE Model. " Forthcoming in Journal of Money, Credit, and Banking.
2. Adolfson, M., S. Laséen, J. Lindé, and M. Villani. 2007a. "Bayesian Estimation of an Open Economy DSGE Model with Incomplete Pass-Through. " Journal of International Economics 72 (2): 481-511.
3. Adolfson, M., S. Laséen, J. Lindé, and M. Villani. 2007b. "RAMSES-A New General Equilibrium Model for Monetary Policy Analysis. " Economic Review (Sveriges Riksbank) 2007 (2): 5-39.
4. Adolfson, M., S. Laséen, J. Lindé, and M. Villani. 2008. "Evaluating an Estimated New Keynesian Small Open Economy Model. " Journal of Economic Dynamics and Control 32 (8): 2690-2721.
5. Anderson, G. S., and G. Moore. 1983. "An Efficient Procedure for Solving Linear Perfect Foresight Models. " Working Paper. Available at http://www.frb.gov.
6. Anderson, G. S., and G. Moore. 1985. "A Linear Algebraic Procedure for Solving Linear Perfect Foresight Models. " Economics Letters 17 (3): 247-52.
7. Boucekkine, R. 1995. "An Alternative Method for Solving Nonlinear Forward-Looking Models. " Journal of Economic Dynamics and Control 19 (4): 711-34.
8. Dynare. 2009. Dynare Manual, version 4.1.0. Available at http://www.dynare.org.
9. Fair, R. C., and J. B. Taylor. 1983. "Solution and Maximum Likelihood Estimation of Dynamic Nonlinear Rational Expectations Models. " Econometrica 51 (4): 1169-85.
10. Gagnon, J. E., and D. W. Henderson. 1990. "Nominal Interest Rate Pegging under Alternative Expectations Hypotheses. " In Financial Sectors in Open Economies: Empirical Analysis and Policy Issues, ed. P. Hopper, K. H. Johnson, D. L. Kohn, D. E. Lindsey, R. D. Porter, and R. Tryon, 437-73. Washington, DC: Board of Governors of the Federal Reserve System.
11. Galí, J. 2010. "Are Central Banks' Projections Meaningful?" Working Paper. Available at http://www.crei.cat/people/gali.
12. Giannoni, M. P., and M. Woodford. 2010. "Optimal Targeting Criteria for Stabilization Policy. " Working Paper.
13. Juillard, M. 1996. "DYNARE: A Program for the Resolution and Simulation of Dynamic Models with Forward Variables Through the Use of a Relaxation Algorithm. " CEPREMAP Working Paper No. 9602.
14. Klein, P. 2000. "Using the Generalized Schur Form to Solve a Multivariate Linear Rational Expectations Model. " Journal of Economic Dynamics and Control 24 (10): 1405-23.
15. Laffargue, J.-P. 1990. "Résolution d'un modèle macroéconomique avec anticipations rationnelles. " Annales d' Économie et de Statistique 17: 97-119.
16. Leeper, E. M., and T. Zha. 2003. "Modest Policy Interventions. " Journal of Monetary Economics 50 (8): 1673-1700.
17. Lindé, J. 2005. "Estimating New-Keynesian Phillips Curves: A Full Information Maximum Likelihood Approach. " Journal of Monetary Economics 52 (6): 1135-49.
18. Rudebusch, G. D., and L. E. O. Svensson. 1999. "Policy Rules for Inflation Targeting. " In Monetary Policy Rules, ed. J. B. Taylor. Chicago: University of Chicago Press.
19. Sargent, T. J., and N. Wallace. 1975. "Rational Expectations, the Optimal Monetary Instrument and the Optimal Money Supply Rule. " Journal of Political Economy 83 (2): 241-54.
20. Sims, C. A. 2000. "Solving Linear Rational Expectations Models. " Working Paper.
21. Söderlind, P. 1999. "Solution and Estimation of RE Macromodels with Optimal Policy. " European Economic Review 43 (4-6): 813-23. Related software available at http://home.tiscalinet.ch/paulsoderlind.
22. Svensson, L. E. O. 1999. "Inflation Targeting as a Monetary Policy Rule. " Journal of Monetary Economics 43 (3): 607-54.
23. Svensson, L. E. O. 2005. "Monetary Policy with Judgment: Forecast Targeting. " International Journal of Central Banking 1 (1): 1-54.
24. Svensson, L. E. O. 2009. "Optimization under Commitment and Discretion, the Recursive Saddlepoint Method, and Targeting Rules and Instrument Rules: Lecture Notes. " Available at http://www.larseosvensson.net.
25. Svensson, L. E. O. 2010. "Some Problems with Swedish Monetary Policy and Possible Solutions. " Speech given in Stockholm, Sweden, November 24. Available at http://www.larseosvensson.net.
26. Svensson, L. E. O., and R. J. Tetlow. 2005. "Optimal Policy Projections. " International Journal of Central Banking 1 (3): 177-207.
27. Svensson, L. E. O., and M. Woodford. 2005. "Implementing Optimal Policy through Inflation-Forecast Targeting. " In The Inflation-Targeting Debate, ed. B. S. Bernanke and M. Woodford, 19-83. Chicago: University of Chicago Press.
28. Woodford, M. 2003. Interest Rates and Prices. Princeton, NJ: Princeton University Press.