Optimal monetary policy under learning and structural uncertainty in a New Keynesian model with a cost channel and inflation inertia

DOI10.1016/j.jedc.2016.05.009zbMath1401.91309OpenAlexW2396449146MaRDI QIDQ1655724

Mikael Bask, Christian R. Proaño

Publication date: 9 August 2018

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jedc.2016.05.009

zbMATH Keywords

commitmentdeterminacyoptimal monetary policydiscretionleast squares learningmisapprehension

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Economic growth models (91B62)

Cites Work

• Monetary policy, indeterminacy and learning
• Does inflation increase after a monetary policy tightening? Answers based on an estimated DSGE model
• E-stability vis-a-vis determinacy results for a broad class of linear rational expectations models
• Learning about monetary policy rules when the cost-channel matters
• Convergence of least squares learning mechanisms in self-referential linear stochastic models
• The Solution of Linear Difference Models under Rational Expectations
• Expectations and the Stability Problem for Optimal Monetary Policies
• Inflation Persistence

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