MONETARY POLICY RULES UNDER UNCERTAINTY: EMPIRICAL EVIDENCE, ADAPTIVE LEARNING, AND ROBUST CONTROL

DOI10.1017/S1365100505040332zbMath1101.91346OpenAlexW2152625243MaRDI QIDQ3375357

Willi Semmler, Wenlang Zhang

Publication date: 8 March 2006

Published in: Macroeconomic Dynamics (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1017/s1365100505040332

zbMATH Keywords

robust controlMarkov switchingstate-space modelrecursive least-squares learning

Mathematics Subject Classification ID

Least squares and related methods for stochastic control systems (93E24) Macroeconomic theory (monetary models, models of taxation) (91B64)

Related Items (1)

The price of risk and ambiguity in an intertemporal general equilibrium model of asset prices

Cites Work

• Using dynamic programming with adaptive grid scheme for optimal control problems in economics
• An adaptive grid scheme for the discrete Hamilton-Jacobi-Bellman equation
• Adaptive control in the presence of time-varying parameters
• Simplicity versus optimality: The choice of monetary policy rules when agents must learn
• Learning and control in a changing economic environment.
• The U. S. Phillips curve: The case for asymmetry
• Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory*

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