Performance of monetary policy with internal central bank forecasting

Seppo Honkapohja, Kaushik Mitra

Forskningsoutput: TidskriftsbidragArtikelVetenskapligPeer review

Sammanfattning

Recent models of monetary policy have analyzed the desirability of different optimal and ad hoc interest rules under the restrictive assumption that forecasts of the private sector and the central bank are homogeneous. This paper studies the implications of heterogeneity in forecasting by the central bank and private agents for the performance of interest rules in a framework of econometric learning. (c) 2004 Elsevier B.V. All rights reserved.
Originalspråkengelska
TidskriftJournal of Economic Dynamics & Control
Volym29
Sidor (från-till)627-658
Antal sidor32
ISSN0165-1889
DOI
StatusPublicerad - 2005
MoE-publikationstypA1 Tidskriftsartikel-refererad

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