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Robustly optimal monetary policy in a New Keynesian model with housing

Adam, Klaus; Woodford, Michael - 2020

We analytically characterize optimal monetary policy for an augmented New Keynesian model with a housing sector. With … rational private sector expectations about housing prices and inflation, optimal monetary policy can be characterized by a … standard 'target criterion' that refers to inflation and the output gap, without making reference to housing prices. When the …

Persistent link: https://www.econbiz.de/10012171741

Rational asset pricing bubbles

Santos Santos, Manuel - In: Econometrica : journal of the Econometric Society, an … 65 (1997) 1, pp. 19-57

Persistent link: https://www.econbiz.de/10001217068

Rational asset pricing bubbles : [Bonn-Workshop]

Santos Santos, Manuel - 1993

Persistent link: https://www.econbiz.de/10000891123

Self-fulfilling expectations and fluctuations in aggregate demand

Woodford, Michael - 1990

Persistent link: https://www.econbiz.de/10000790828

Robustly optimal monetary policy in a microfounded new keynesian model

Adam, Klaus; Woodford, Michael - 2012

We consider optimal monetary stabilization policy in a New Keynesian model with explicit microfoundations, when the central bank recognizes that private-sector expectations need not be precisely model-consistent, and wishes to choose a policy that will be as good as possible in the case of any...

Persistent link: https://www.econbiz.de/10011489843

Robustly optimal monetary policy in a microfounded New Keynesian model

Adam, Klaus; Woodford, Michael - In: Journal of monetary economics 59 (2012) 5, pp. 468-487

Persistent link: https://www.econbiz.de/10009622326

Self-Fulfilling Expectations and Fluctuations in Aggregate Demand

Woodford, Michael - 1990

The paper presents an intertemporal general equilibrium model with rationing in the product market, in which stationary sunspot equilibria are shown to exist, indicating the possibility of fluctuations in economic activity simply due to self-fulfilling variations in economic agents'...

Persistent link: https://www.econbiz.de/10012475672

Self-Fulfilling Expectations and Fluctuations in Aggregate Demand

Woodford, Michael - 2010

Persistent link: https://www.econbiz.de/10013138365

Housing prices and robustly optimal monetary policy

Adam, Klaus; Woodford, Michael - 2013

Persistent link: https://www.econbiz.de/10010345429

Optimally imprecise memory and biased forecasts

Silveira, Rava Azeredo da; Sung, Yeji; Woodford, Michael - 2020

complexity of memory measured using Shannon's mutual information, as in models of rational inattention; but our theory differs …

Persistent link: https://www.econbiz.de/10012316965

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