Edge, Rochelle M.; Laubach, Thomas; Williams, John C. - 2007
aggregate wage rate Wt, its profits income, and its initial bond stock
Bi,0, chooses its consumption Ct(i) and its wage Wt(i) to … the beginning of period t. We
assume that there exists a risk-free one-period bond, which pays one unit of the numeraire …, Washington, D.C.
Welfare-Maximizing Monetary Policy under Parameter
Uncertainty
Rochelle M. Edge, Thomas Laubach, and John C …