Adalid, Ramón; Coenen, Günter; McAdam, Peter; … - 2005
In this paper, we examine the performance and robustness of optimised interest-rate rules in four models of the euro … and adherence to micro-foundations. Our findings are broadly consistent with results documented for models of the U …; and, hence, the operating characteristics of robust rules (i.e., rules that perform satisfactorily in all models) are …