Orphanides, Athanasios; Williams, John C. - 2007
Robust Monetary Policy with Imperfect Knowledge
Athanasios Orphanides
Board of Governors of the Federal Reserve System …
where private agents and the central bank possess imperfect knowledge about the true
structure of the economy. Policymakers … under rational
expectations with perfect knowledge. Furthermore, policies that would be optimal under
perfect knowledge can …