Search Results - subject:"Optimal Monetary policy"

Endogenous growth, skill obsolescence and optimal monetary policy

Lechthaler, Wolfgang; Tesfaselassie, Mewael F. - 2021

We analyze Ramsey optimal monetary policy in a New-Keynesian model with search and matching fric- tions featuring (i … the full model we show significant deviations from price stability and significant differences be- tween optimal monetary … policy and monetary policy that follows a Taylor rule. …

Persistent link: https://www.econbiz.de/10015419788

Optimal monetary policy using reinforcement learning

Hinterlang, Natascha; Tänzer, Alina - 2021

This paper introduces a reinforcement learning based approach to compute optimal interest rate reaction functions in terms of fulfilling inflation and output gap targets. The method is generally flexible enough to incorporate restrictions like the zero lower bound, nonlinear economy structures...

Persistent link: https://www.econbiz.de/10012792732

Optimal monetary policy with the risk-taking channel

Abbate, Angela; Thaler, Dominik - 2021

Persistent link: https://www.econbiz.de/10012795405

Monetary policy for a bubbly world

Asriyan, Vladimir; Fornaro, Luca; Martin, Alberto; … - In: The review of economic studies : RES 88 (2021) 3, pp. 1418-1456

Persistent link: https://www.econbiz.de/10012546286

Credibility dynamics and inflation expectations

Kostadinov, Rumen; Roldán, Francisco - 2021

Persistent link: https://www.econbiz.de/10012500640

Optimal constrained interest-rate rules under heterogeneous expectations

Gasteiger, Emanuel - 2021

This paper examines optimal monetary policy under heterogeneous expectations. To this end, we develop a stochastic New … missing under the rational expectations paradigm. On the other side, even discretionary optimal monetary policy can manipulate … implementation of discretionary optimal monetary policy to exploit this channel lowers macroeconomic volatility. We find that: (1 …

Persistent link: https://www.econbiz.de/10012503424

Optimal monetary policy with the risk-taking channel

Abbate, Angela; Thaler, Dominik - 2021

Persistent link: https://www.econbiz.de/10012516760

A toolkit for computing Constrained Optimal Policy Projections (COPPs)

De Groot, Oliver; Mazelis, Falk; Motto, Roberto; … - 2021

facilitates its use. Examples replicate existing results in the optimal monetary policy literature and illustrate the usefulness …

Persistent link: https://www.econbiz.de/10012519365

Optimal robust monetary policy with parameters and output gap uncertainty

Grasso, Adriana; Traficante, Guido - 2021

Persistent link: https://www.econbiz.de/10012584683

The implementation of stabilization policy

Loisel, Olivier - In: Theoretical economics : TE ; an open access journal in … 16 (2021) 2, pp. 677-716

In locally linearized dynamic stochastic rational-expectations models, I introduce the concepts of feasible paths (paths on which the policy instrument can be expressed as a function of the policymaker's observation set) and implementable paths (paths that can be obtained, in a minimally robust...

Persistent link: https://www.econbiz.de/10012587428