Tetlow, Robert; Muehlen, Peter von zur - In: Review of Economic Dynamics 7 (2004) 4, pp. 869-899
We examine learning, model misspecification, and robust policy responses to misspecification in a quasi-real-time environment. The laboratory for the analysis is the Sargent (1999) explanation for the origins of inflation in the 1970's and the subsequent disinflation. Three robust policy rules...