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文章基本信息

  • 标题:Robust versus Optimal Rules in Monetary Policy: A note
  • 本地全文:下载
  • 作者:Maria Demertzis ; Alexander F.Tieman
  • 期刊名称:DNB Staff Reports
  • 出版年度:2003
  • 卷号:1
  • 出版社:Nederlandsche Bank
  • 摘要:We provide a framework for analysing the choice between optimal and robust rules in the presence of paradigm uncertainty in monetary policy. We thus provide for two issues: …rst, we discuss the conditions of uncertainty that render a robust rule a preferable substitute to optimal rules and second, we show how the degree of risk aversion increases the desirability of robust rules.
  • 关键词:Model Uncertainty, Monetary Policy, Optimal Policy Rules.
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