Optimal Interest-Rate Smoothing

DOI10.1111/1467-937X.00270MaRDI QIDQ4468845zbMATH OpenOpenAlexFDO

Authors Michael Woodford

Publication date 11 June 2004

Published in Review of Economic Studies (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1111/1467-937x.00270

zbMATH Keywords

central bankinterest-rate smoothingprivate-sector behavior

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64)

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Cited in

(60)

• Monetary policy under misspecified expectations
• Optimal fiscal and monetary policy under sticky prices.
• New-Keynesian Phillips curve with Bertrand competition and endogenous entry
• Monetary policy and the term premium
• Changes in federal reserve preferences
• Optimal inflation rates with the trending relative price of investment
• A note on timeless perspective policy design
• Asymmetric interest rate smoothing: the FED approach
• Inflation forecast contracts
• Delegating optimal monetary policy inertia
• Deviations from rules-based policy and their effects
• The design and communication of systematic monetary policy strategies
• Monetary policy with interest on reserves
• Optimal interest-rate rules and inflation stabilization versus price-level stabilization
• Monetary policy trade-offs in an estimated open-economy DSGE model
• Average inflation targeting and interest-rate smoothing
• Shock matters for estimating monetary policy rules
• Monetary and fiscal policy interaction in the euro area with different assumptions on the Phillips curve
• Revisiting the Great Moderation : policy or luck?
• On optimal monetary policy rules and the construction of MCIs in the open economy
• Central bank reputation in a forward-looking model
• Debt stabilisation and dynamic interaction between monetary and fiscal policy: in medio stat virtus
• Modeling time-variation over the business cycle (1960--2017): an international perspective
• Model uncertainty and policy evaluation: some theory and empirics
• The welfare gains of trade integration in the European monetary union
• MARKET SEGMENTATION AND THE RESPONSE OF THE REAL INTEREST RATE TO MONETARY POLICY SHOCKS
• Discretionary monetary policy in the Calvo model
• THE APPRENTICE WIZARD: MONTETARY POLICY, COMPLEXITY AND LEARNING
• Equilibrium implications of interest rate smoothing
• Optimum Monetary Policy during Monetary Union Enlargement
• Flattening of the Phillips curve under low trend inflation
• Household's preferences and monetary policy inertia
• Price stabilizing, Pareto improving policies
• TESTING WAGE AND PRICE PHILLIPS CURVES FOR THE UNITED STATES
• THE LABOUR MARKET AND TECHNICAL CHANGE IN ENDOGENOUS CYCLES
• Determinacy, stock market dynamics and monetary policy inertia
• Monetary policy and determinacy: an inquiry into open economy New Keynesian macrodynamics
• On a constrained infinite-time horizon linear quadratic game
• Monetary policy inertia and the paradox of flexibility
• Behavioral learning equilibria in New Keynesian models
• Bifurcation in perturbation analysis: Calvo pricing examples
• Aggregate demand, Harrod's instability and fluctuations
• Perceptions about monetary policy
• Limited asset market participation and monetary policy in a small open economy
• Inflation dynamics under habit formation in hours
• Managing the inflation-output trade-off with public debt portfolios
• Liquidity trap and optimal monetary policy: evaluations for U. S. monetary policy from 2020 to 2023
• Macroeconomic (in)stability under real interest rate targeting
• Shocks, structures or monetary policies? The euro area and US after 2001
• Optimal interest rate stabilization in a basic sticky-price model
• New Keynesian explanations of cyclical movements in aggregate inflation and regional inflation differentials
• Minding the gap: Central bank estimates of the unemployment natural rate
• Solution algorithm to a class of monetary rational equilibrium macromodels with optimal monetary policy design
• Optimal monetary policy and long-term interest rate dynamics: Taylor rule extensions
• Integrating real and financial markets in an agent-based economic model: An application to monetary policy design
• Efficient propagation of shocks and the optimal return on money
• Local robustness analysis: theory and application
• Targeting inflation by forecast feedback rules in small open economies
• Can money matter for interest rate policy?
• An experimental test of Taylor-type rules with inexperienced central bankers

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