@inproceedings{Wohltmann2010News,
abstract = {This paper evaluates the performance of optimal simple policy rules in the presence of news shocks. It is shown that the inclusion of forward-looking elements enhances the performance of simple optimized interest rate rules when agents learn about future disturbances in advance. We provide a rationale for this result by demonstrating that, if shocks are news shocks, the optimal unrestricted control rule under commitment contains as a basic principle a forward-looking element.},
address = {Frankfurt a. M.},
author = {Hans-Werner Wohltmann and Roland C. Winkler},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {E32; E52; E58; 330; News Shocks; Optimal Simple Rules; Optimal Monetary Policy},
language = {eng},
number = {G2-V3},
publisher = {Verein f\"{u}r Socialpolitik},
series = {Beitr\"{a}ge zur Jahrestagung des Vereins f\"{u}r Socialpolitik 2010: \"{O}konomie der Familie - Session: Advances of New Keynesian Macroeconomics},
title = {News Shocks and Optimal Simple Rules},
url = {http://hdl.handle.net/10419/37341},
year = {2010}
}
