A Note on Simple MSV Solution Methods for Rational Expectations Models of Monetary Policy

We analyse the derivation of optimal monetary policy under discretion and commitment when lagged expectations appear in the Phillips curve, making use of the comparatively simple MSV approach which does not require transformation of the model into state-space form.

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Year of publication:	2003-10-01
Authors:	Mash, Richard
Institutions:	Department of Economics, Oxford University
Subject:	Monetary Policy \| Rational Expectations \| Solution Methods \| Minimal State Variable \| Undetermined Coefficients

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Extent:	application/pdf
Series:	Economics Series Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 173
Classification:	C61 - Optimization Techniques; Programming Models; Dynamic Analysis ; E52 - Monetary Policy (Targets, Instruments, and Effects) ; E58 - Central Banks and Their Policies
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005051066