We offer a contribution to the analysis of optimal monetary policy. The standard approach to determine what policy rule … inflation and real activity. In this paper, we propose monetary policy rules that perform robustly across a broad range of …. This cost-benefit analysis strongly supports adopting a robust-model approach to monetary policy. …

study how unanticipated changes in the monetary policy stance shape the subsequent dynamics of income inequality. The … results show that monetary policy persistently affects labor income inequality and that these distributional effects are …

contemporaneous and anticipated monetary policy shocks that replicate the forward curves observed during the period of interest …

) model to disentangle the macroeconomic effects of oil supply news and monetary policy shocks. Our identification strategy … find that both oil supply and monetary policy shocks significantly influence U.S. output and inflation. Moreover, while … monetary policy can mitigate some of the output losses caused by oil price shocks, it cannot fully offset their inflationary …

We study how short-term interest rate volatility affects the transmission of monetary policy. To identify exogenous …-frequency-identified monetary policy shocks, we find that increases in volatility dampen the effects of monetary policy on output and prices. This …