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4 edition of Optimal monetary policy under uncertainty found in the catalog.

Optimal monetary policy under uncertainty

Richard T. Froyen

Optimal monetary policy under uncertainty

by Richard T. Froyen

  • 171 Want to read
  • 28 Currently reading

Published by Edward Elgar in Cheltenham, UK, Northampton, MA .
Written in English

    Subjects:
  • Monetary policy -- Mathematical models.,
  • Uncertainty.,
  • Mathematical optimization.

  • Edition Notes

    Includes bibliographical references (p. 307-320) and index.

    StatementRichard T. Froyen, Alfred V. Guender.
    ContributionsGuender, Alfred V.
    Classifications
    LC ClassificationsHG230.3 .F775 2007
    The Physical Object
    Paginationvii, 332 p. :
    Number of Pages332
    ID Numbers
    Open LibraryOL21885308M
    ISBN 109781845429645
    LC Control Number2007931144

    "Optimal Monetary Policy under Uncertainty in DSGE Models: A Markov Jump-Linear-Quadratic Approach", 07/01//30/,, Klaus Schmidt-Hebbel Carl Walsh"Book Series on "Central Banking, Analysis, and Economic Policies" of the Central Bank of Chile", , "In process.". Optimal Financial Decision Making under Uncertainty. Giorgio Consigli and Others robust optimization, stochastic dynamic programming (including approximate SDP) methods, as well as policy rule optimization, heuristic approaches and others. The aim of the volume is to facilitate the comprehension of the modeling and methodological potentials.

    A `~no~wturisr policy When the impact of monetary policy is the dominant source of uncertainty and the uncertainty is large the optimal policy is similar to the monetarists' recommendations. I represent an extreme monetarist position with a random money multiplier (c) and a known transition coefficient (a).Cited by: Monetary policy is the policy adopted by the monetary authority of a country that controls either the interest rate payable on very short-term borrowing or the money supply, often targeting inflation or the interest rate to ensure price stability and general trust in the currency.. Unlike fiscal policy which relies on government to spend its way out of recessions, monetary policy aims to.

    Monetary policy under uncertainty Motivation on parameter uncertainty and discuss how the nature of monetary policy changes when such uncertainty is formally accounted for. The models we use will be static and quite stylised to highlight the precise the optimal policy with parameter uncertainty tracks the federal funds rate better.   Optimal Monetary Policy under Model Uncertainty without Commitment This paper studies the design of optimal time-consistent monetary policy in an economy where the planner trusts its own model, while a representative household uses a set of alternative probability distributions governing the evolution of the exogenous state of the economy.


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Optimal monetary policy under uncertainty by Richard T. Froyen Download PDF EPUB FB2

‘In this second edition of Optimal Monetary Policy under Uncertainty, Richard Froyen and Alfred Guender update and extend their lucid exposition of monetary policymaking in a stochastic setting.

As in the first edition, the book links past and current research on this broad topic. Thus, the book is useful both for a young researcher who wishes to relate contemporary theories to practical. Optimal Monetary Policy Under Uncertainty is a thoughtful and thought-provoking body of work that is very strongly recommended for professional, academic, corporate and governmental economic reference collections and supplemental reading lists.' - Midwest Book Review Enter your mobile number or email address below and we'll send you a link to Cited by: Downloadable.

Recently there has been a resurgence of interest in the study of optimal monetary policy under uncertainty. This book provides a thorough survey of the literature that has resulted from this renewed interest.

The authors ground recent contributions on the ‘science of monetary policy’ in the literature of the s, which viewed optimal monetary policy as primarily a question Cited by: Download Citation | Optimal Monetary Policy Under Uncertainty | Recently there has been a resurgence of interest in the study of optimal monetary policy under uncertainty.

This book provides a. Chapter 1 is an Introductory chapter which explains our general approach to the subject of optimal monetary policy.

This approach emphasizes the information problem that faces policy makers: the pervasiveness of uncertainty. The book also takes a long view of the subject, tracing the development of the literature back to the contributions of Brainard and Poole.

"Optimal Monetary Policy under Uncertainty in DSGE Models: A Markov Jump-Linear-Quadratic Approach," Central Banking, Analysis, and Economic Policies Book Series, in: Klaus Schmidt-Hebbel & Carl E.

Walsh & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series (ed.), Monetary Policy under Uncertainty and Learning, edition 1, volume Get this from a library.

Optimal monetary policy under uncertainty. [Richard T Froyen; Alfred V Guender] -- "Economists in academia and in policymaking organizations who want to learn about recent developments in the area of optimal monetary policy, as well.

Monetary Policy under Uncertainty. of how the public learns about the economy and the objectives of the central bank can affect the form of the optimal monetary policy (Gaspar, Smets, and Vestin, ; Orphanides and Williams, ). Furthermore, when the public is unsure about the central bank's objectives, even greater benefits may.

Optimal Monetary Policy Under Uncertainty Book Summary: Froyen and Guender have provided a thorough and careful analysis of optimal monetary policy over most of the range of theoretical models that have been used in modern macroeconomics. By providing a comprehensive and clear comparative framework they will help the student of monetary policy.

Get this from a library. Optimal monetary policy under uncertainty. [Richard T Froyen; Alfred V Guender] -- Contains contributions on the 'science of monetary policy' in the literature of the s which viewed optimal monetary policy as primarily a question of the optimal use of information and studies in.

'In Optimal Monetary Policy Under Uncertainty, academicians and economists Richard T. Froyen and Alfred V. Guender have collaborated on presenting an informed and informative survey of optimal monetary policy literature arising during the s and s as a ground work for understanding current market and other economic influences on such germane issues as discretion versus commitment.

Optimal Monetary Policy under Uncertainty, Second Edition Richard T. Froyen and Alfred V. Guender. This book provides a thorough survey of the model-based literature on optimal monetary in a stochastic setting.

The survey begins with the literature of the s which focused on the information problem in policy design and extends to the New. The simple but important truth is that, whenever monetary policy does not command the other market participants to behave in a certain way (interventionism), it has no other means but to change the money supply.1 In short, noninterventionist monetary policy in all cases boils down to changing the money supply.

The main reason why this fact is. Optimal Monetary Policy Under Uncertainty. mostly devoted to study optimal monetary policies under extreme scenarios, we focus on policies’ effectiveness.

The book concludes by offering Author: Glenn Otto. Optimal monetary policy must be counter-cyclical in response to both technology and public spending shocks, yet the intensity of the reaction crucially depends on the presence of an R&D sector.

() On endogenous growth under uncertainty. () Optimal fiscal and monetary policy under sticky prices. Find many great new & used options and get the best deals for Optimal Monetary Policy under Uncertainty by Richard Froyen and Alfred V. Guender (, Paperback) at the best online prices at eBay.

Free shipping for many products. Richard Froyen and Alfred Guender, Optimal Monetary Policy under Uncertainty, Edward Elgar,pages. Froyen and Guender have provided a thorough and careful analysis of optimal monetary policy over most of the range of theoretical models that have been employed in modern macroeconomics.

optimal monetary policy under uncertainty with actual central bank behaviour. To this end, three examples are studied in which uncertainty played a significant role in the Bank of Canada’s policy decision, to see how closely they align with the predictions from the literature.

Three principles emerge from this : Rhys R. Mendes, Stephen Murchison, Carolyn A. Wilkins. Fiscal Policy Effects: The Keynesian Multiplier and After 3.

Financial Crises: Causes and Policy Responses Readings: For monetary policy the central reading will be Richard Froyen and Alfred Guender, Optimal Monetary Policy Under Uncertainty (Edward Elgar Publishing, ),paperback.

For fiscal policy the readings will be articles. Here you can get it directly ⇩ Optional Monetary Policy Under Uncertainty Recently there has been a resurgence of interest in the study of optimal monetary policy under uncertainty. This book provides a thorough survey of the literature that has r.

Downloadable! For central banks, conducting policy in an environment of uncertainty is a daily fact of life. This uncertainty can take many forms, ranging from incomplete knowledge of the correct economic model and data to future economic and geopolitical events whose precise magnitudes and effects cannot be known with certainty.

The objective of this paper is to summarize and compare the main Author: Rhys R. Mendes, Stephen Murchison, Carolyn A. Wilkins. Aoki, Kosuke. On the Optimal Monetary Policy Response to Noisy Indicators.

“ Journal of Monetary Economics 50(3), pp. Brainard, William. “Uncertainty and the Effectiveness of Monetary Policy.” American Economic Review .frictions over the business cycle.

Optimal monetary policy is found to be state-dependent. In each state, optimal monetary policy depends on the transition probabilities between the di⁄erent regimes. JEL classi–cation: E52, E58, E61, E44 Key words: monetary policy; uncertainty; –nancial frictions.

4 ECB Working Paper Series No June