Robust inflation-forecast-based rules to shield against indeterminacy

DOI10.1016/J.JEDC.2005.08.010MaRDI QIDQ959632zbMATH OpenOpenAlexFDO

Authors N. Batini, Alejandro Justiniano, P. Levine, Joseph Pearlman

Publication date 12 December 2008

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

Full work available at URL https://repec.som.surrey.ac.uk/2004/DP08-04.pdf

zbMATH Keywords

robustnessindeterminacyTaylor rulesinflation-forecast-based rules

Mathematics Subject Classification ID

Bayesian inference (62F15) Applications of statistics to actuarial sciences and financial mathematics (62P05) Macroeconomic theory (monetary models, models of taxation) (91B64) Optimal stochastic control (93E20)

Recommendations

• Inflation-targeting, price-path targeting and indeterminacy
• Targeting inflation by forecast feedback rules in small open economies
• Inflation persistence and robust monetary policy design
• Inflation targeting with imperfect information
• Inflation targeting with NAIRU uncertainty and endogenous policy credibility
• Optimal horizons for inflation targeting
• Econometric inflation targeting
• Robust monetary rules under unstructured model uncertainty
• The monetary policy response to uncertain inflation persistence

Cites work

• scientific article; zbMATH DE number 3939033 (Why is no real title available?)
• scientific article; zbMATH DE number 2063756 (Why is no real title available?)
• Inference from iterative simulation using multiple sequences
• Inflation Persistence
• Inflation persistence and robust monetary policy design
• Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory*
• On Bayesian model and variable selection using MCMC
• Robust inflation-forecast-based rules to shield against indeterminacy
• Robust monetary policy with misspecified models: Does model uncertainty always call for attenuated policy?
• Using simulation methods for bayesian econometric models: inference, development,and communication

Cited in

(8)

• Inflation persistence and robust monetary policy design
• Robust monetary rules under unstructured model uncertainty
• Bounded interest rate feedback rules in continuous-time
• Inflation targeting with NAIRU uncertainty and endogenous policy credibility
• Robust inflation-forecast-based rules to shield against indeterminacy
• Forecast uncertainty and the Bank of England’s interest rate decisions
• Robust monetary policy in a small open economy
• Inflation-targeting rules: history-dependent or forward-looking?

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