European Parliament Library

Robust Versus Optimal Rules in Monetary Policy :, A Note

Abstract
We provide a framework for analyzing the choice between optimal and robust monetary policy rules in the presence of paradigm uncertainty. We first discuss the conditions on uncertainty that render a robust rule preferable to an optimal rule. Second, we show how the degree of risk aversion of the policymaker increases the region in which the robust rule is preferred
Table Of Contents
""Contents""; ""I. INTRODUCTION""; ""II. OPTIMAL VERSUS ROBUST RULES: A MODEL""; ""III. POLICY RULES AND RISK PREFERENCES ""; ""IV. DISCUSSION/CONCLUSIONS""; ""REFERENCES""
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (11 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781452781525

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