Gonzalez F.; Rodriguez A.; Gonzalez-Garcia J.R. - Society for Computational Economics - SCE - 2005
recklessness for the central bank. This result argues in favor of caution over recklessness in the formulation of monetary policy …Uncertainty about the persistence of periods characterized by large price shocks is an important aspect of monetary … policy. This type of uncertainty posed some difficulties for central banks in 2004. This paper formalizes the treatment of …