Search Results - subject:"optimal policy under Commitment"

Monetary policy under discretion or commitment? An empirical study

Fromlet, Pia - 2013

In this paper, I investigate the monetary policy of five industrialized countries which have had explicit inflation targets for more than 15 years. Considering the case of discretionary policy as well as commitment, I estimate two first order conditions. The results support the theory of...

Persistent link: https://www.econbiz.de/10010321392

Monetary policy under discretion or commitment? : an empirical study

Fromlet, Pia - 2013

targeting under commitment. -- Inflation targeting ; optimal policy under discretion ; optimal policy under commitment …

Persistent link: https://www.econbiz.de/10009739532

Monetary policy responses amid credit and asset booms and busts

Pavasuthipaisit, Robert - Volkswirtschaftliche Fakultät, … - 2007

forecasts of inflation. This paper finds that such strategy is far from being optimal. This paper derives optimal policy under … commitment in a standard financial accelerator model and finds that in the optimal equilibrium, the central bank responds to a …

Persistent link: https://www.econbiz.de/10005835913

Limitations on the Effectiveness of Forward Guidance at the Zero Lower Bound

Levin, Andrew; López-Salido, J David; Nelson, Edward; … - C.E.P.R. Discussion Papers - 2009

performance via nontraditional monetary policies. In this paper, we characterize optimal policy under commitment in a prototypical …

Persistent link: https://www.econbiz.de/10008509467