Performance of Monetary Policy with Internal Central Bank Forecasting

Recent models of monetary policy have analysed the desirability of different optimal and ad hoc interest-rate rules under the restrictive assumption that forecasts of the private sector and central bank are homogeneous. In this paper, we study from a learning perspective the implications of heterogeneity across forecasts by the central bank and private agents for the performance of interest-rate rules

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Year of publication:	[2007]
Authors:	Honkapohja, Seppo
Other Persons:	Mitra, Kaushik (contributor)
Publisher:	[2007]: [S.l.] : SSRN
Subject:	Geldpolitik \| Monetary policy \| Zentralbank \| Central bank \| Theorie \| Theory \| Lernprozess \| Learning process \| Adaptive Erwartungen \| Adaptive expectations

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