Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/211933 
Erscheinungsjahr: 
2002
Schriftenreihe/Nr.: 
Bank of Finland Discussion Papers No. 29/2002
Verlag: 
Bank of Finland, Helsinki
Zusammenfassung: 
We review the recent work on interest rate setting, which emphasizes the desirability of designing policy to ensure stability under private agent learning.Appropriately designed expectations based rules can yield optimal rational expectations equilibria that are both determinate and stable under learning.Some simple instrument rules and approximate targeting rules also have these desirable properties.We take up various complications in implementing optimal policy, including the observability of key variables and the required knowledge of structural parameters.An additional issue that we take up concerns the implications of expectation shocks not arising from transitional learning effects.
Schlagwörter: 
commitment
interest rate setting
adaptive learning
stability
determinacy
expectations shocks
JEL: 
E52
E31
D84
Persistent Identifier der Erstveröffentlichung: 
ISBN: 
952-462-021-9
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
485.37 kB





Publikationen in EconStor sind urheberrechtlich geschützt.