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Can I read Optimal policy and Taylor rule cross-checking under parameter uncertainty on EtoBox?
Optimal policy and Taylor rule cross-checking under parameter uncertainty by Dirk Bursian; Markus Roth is a Economics, Econometrics and Finance article available to read on EtoBox.
What is Optimal policy and Taylor rule cross-checking under parameter uncertainty about?
## Abstract We examine whether the robustifying nature of Taylor rule cross-checking under model uncertainty carries over to the case of parameter uncertainty. Adjusting monetary policy based on this kind of cross-checking can improve the outcome for the monetary authority. This, however, crucially depends on the relative welfare weight that is attached to the output gap and also the degree of monetary policy commitment. We find that Taylor rule cross-checking is on average able to improve losses when the monetary authority only moderately cares about output stabilization and when policy is set in a discretionary way.
Who reads Optimal policy and Taylor rule cross-checking under parameter uncertainty?
It is typically read by researchers, students, and practitioners in Economics, Econometrics and Finance.
- Author
- Dirk Bursian; Markus Roth
- Publisher
- The Berkeley Electronic Press; Walter de Gruyter GmbH; Berkeley Electronic Press (ISSN 2194-6116)
- Published
- 2014
- Language
- EN
- Field
- Economics, Econometrics and Finance (Social Sciences)