Learning and optimal monetary policy

DOI10.1016/J.JEDC.2007.08.002MaRDI QIDQ844696zbMATH OpenOpenAlexFDO

Authors Richard Dennis, Federico Ravenna

Publication date 19 January 2010

Published in Journal of Economic Dynamics and Control (Search for Journal in Brave)

Full work available at URL http://www.frbsf.org/publications/economics/papers/2007/wp07-19bk.pdf

zbMATH Keywords

learningtransparencyoptimal policy

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Statistical methods; economic indices and measures (91B82)

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Cites work

• Convergence of least squares learning mechanisms in self-referential linear stochastic models
• Expectations and the Stability Problem for Optimal Monetary Policies
• First Order Autoregression: Inference, Estimation, and Prediction
• Learning by doing and the value of optimal experimentation
• MONETARY POLICY OVER TIME
• Monetary policy, learning and the speed of convergence
• Monopolistic Price Adjustment and Aggregate Output
• OPTIMAL POLICY IN RATIONAL EXPECTATIONS MODELS: NEW SOLUTION ALGORITHMS
• Simplicity versus optimality: The choice of monetary policy rules when agents must learn

Cited in

(20)

• What kind of central bank competence?
• LEARNING, COMMITMENT, AND MONETARY POLICY
• Adaptive Learning and Central Bank Inattentiveness in Optimal Monetary Policy
• Robustifying learnability
• Simplicity versus optimality: The choice of monetary policy rules when agents must learn
• CAUTION OR ACTIVISM? MONETARY POLICY STRATEGIES IN AN OPEN ECONOMY
• Optimal monetary policy under learning and structural uncertainty in a New Keynesian model with a cost channel and inflation inertia
• Learning and misperception of makeup strategies
• Inferring monetary policy objectives with a partially observed state
• THE APPRENTICE WIZARD: MONTETARY POLICY, COMPLEXITY AND LEARNING
• Learning under fear of floating
• Managing disinflation under uncertainty
• Adaptive learning and the use of forecasts in monetary policy
• Learning, monetary policy rules, and macroeconomic stability
• Learnability and transparency with time inconsistent monetary policy
• Inflation Variability and Gradualist Monetary Policy
• Two-sided learning and short-run dynamics in a New Keynesian model of the economy
• Learning and loss functions: comparing optimal and operational monetary policy rules
• Monetary policy, learning and the speed of convergence
• Performance of monetary policy with internal central bank forecasting

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