Robust Versus Optimal Rules in Monetary Policy : A Note.
We provide a framework for analyzing the choice between optimal and robust monetary policy rules in the presence of paradigm uncertainty. We first discuss the conditions on uncertainty that render a robust rule preferable to an optimal rule. Second, we show how the degree of risk aversion of the pol...
| Korporativna značnica: | |
|---|---|
| Format: | Revija |
| Jezik: | English |
| Izdano: |
Washington, D.C. :
International Monetary Fund,
2004.
|
| Serija: | IMF Working Papers; Working Paper ;
No. 2004/096 |
| Teme: | |
| Online dostop: | Full text available on IMF |