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Optimal Monetary Policy Rules: The Problem of Stability under Heterogeneous Learning

We test these monetary policy rules in the general setup of New Keynesian model that is a working horse of monetary policy models today. It is of interest to see that the results obtained by Evans and Honkapohja (2003) for homogeneous learning case are replicated for the case when the representative agent hypothesis is lifted.
Year of publication:
2007
Authors: Kolyuzhnov, Dmitri ; Bogomolova, Anna
Institutions: Society for Economic Dynamics - SED
Extent:
application/pdf
Series:
Type of publication: Book / Working Paper
Notes:
The text is part of a series 2007 SED Meeting Papers Number 713
Source:
Persistent link: https://www.econbiz.de/10011082145
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