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EconStor >
Goethe-Universität Frankfurt am Main >
Center for Financial Studies (CFS), Universität Frankfurt a. M. >
CFS Working Paper Series, Universität Frankfurt a. M. >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/25513
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Woodford, Michael | | en_US |
| dc.date.accessioned | | 2007-04-24 | | en_US |
| dc.date.accessioned | | 2009-07-24T13:48:19Z | | - |
| dc.date.available | | 2009-07-24T13:48:19Z | | - |
| dc.date.issued | | 2005 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/25513 | | - |
| dc.description.abstract | | The paper considers optimal monetary stabilization policy in a forward-looking model, when the central bank recognizes that private-sector expectations need not be precisely modelconsistent, and wishes to choose a policy that will be as good as possible in the case of any beliefs that are close enough to model-consistency. It is found that commitment continues to be important for optimal policy, that the optimal long-run inflation target is unaffected by the degree of potential distortion of beliefs, and that optimal policy is even more historydependent than if rational expectations are assumed. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Center for Financial Studies Frankfurt, Main | | en_US |
| dc.relation.ispartofseries | | CFS Working Paper 2007/12 | | en_US |
| dc.subject.jel | | E52 | | en_US |
| dc.subject.jel | | E58 | | en_US |
| dc.subject.jel | | E42 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Optimal Monetary Policy | | en_US |
| dc.subject.keyword | | Commitment | | en_US |
| dc.subject.keyword | | History-Dependent Policy | | en_US |
| dc.subject.stw | | Geldpolitik | | en_US |
| dc.subject.stw | | Konjunkturpolitik | | en_US |
| dc.subject.stw | | Rationale Erwartung | | en_US |
| dc.subject.stw | | Theorie | | en_US |
| dc.title | | Robustly optimal monetary policy with near-rational expectations | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 527629359 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| dc.identifier.repec | | RePEc:zbw:cfswop:200712 | | - |
| Appears in Collections: | | CFS Working Paper Series, Universität Frankfurt a. M.
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