Paustian, Matthias; Stoltenberg, Christian - Sonderforschungsbereich 649: Ökonomisches Risiko, … - 2006
utility of money is small relative to consumption and leisure. We approximate the model around the optimal steady state as the … leisure. We approximate the model around
the optimal steady state as the long-run policy target. Optimal monetary policy
is … classiflcation: E32, E52, E58.
Keywords: Optimal monetary policy, commitment, timeless perspective, optimal
steady state, staggered …
