Unconditionally optimal monetary policy

Damjanovic, T., Damjanovic, V. and Nolan, C. (2008) Unconditionally optimal monetary policy. Journal of Monetary Economics, 55(3), pp. 491-500. (doi: 10.1016/j.jmoneco.2008.01.003)

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Publisher's URL: http://dx.doi.org/10.1016/j.jmoneco.2008.01.003

Abstract

We develop a simple and intuitive approach for analytically deriving unconditionally optimal (UO) policies, a topic of enduring interest in optimal monetary policy analysis. The approach can be employed in both general linear-quadratic problems and in the underlying non-linear environments. A detailed example is provided using a canonical New Keynesian framework.

Item Type:Articles
Status:Published
Refereed:Yes
Glasgow Author(s) Enlighten ID:Nolan, Professor Charles
Authors: Damjanovic, T., Damjanovic, V., and Nolan, C.
Subjects:H Social Sciences > HB Economic Theory
College/School:College of Social Sciences > Adam Smith Business School > Economics
Journal Name:Journal of Monetary Economics
ISSN:0304-3932
ISSN (Online):1873-1295
Published Online:19 January 2008

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