uncertainty. In this paper, we explore monetary policy decision-making under risk and uncertainty within an insurance model with … to take better monetary policy decisions than single policy-makers. We also show that, in the presence of risk and search … practice, whether a monetary policy committee sufficiently hedges against this risk, may depend on several factors such as the …

Using traditional monetary policy measures, Bekaert et al. (2013) show that a lax monetary policy decreases both risk … aversion and uncertainty and that positive shocks to risk aversion and uncertainty induce monetary policy changes. We extend …