Simplicity versus optimality: The choice of monetary policy rules when agents must learn

DOI10.1016/S0165-1889(99)00075-5MaRDI QIDQ1583319zbMATH OpenOpenAlexWikidataFDO

Authors R. J. Tetlow, P. von zur Muehlen

Publication date 26 October 2000

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

Full work available at URL https://doi.org/10.1016/s0165-1889(99)00075-5

zbMATH Keywords

monetary policy rulespreferenceslearn the rule

Mathematics Subject Classification ID

Individual preferences (91B08) Memory and learning in psychology (91E40)

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Cites work

• scientific article; zbMATH DE number 3727458 (Why is no real title available?)
• scientific article; zbMATH DE number 48313 (Why is no real title available?)
• A Simple, Positive Semi-Definite, Heteroskedasticity and Autocorrelation Consistent Covariance Matrix
• A linear algebraic procedure for solving linear perfect foresight models
• Estimation and Control of a Macroeconomic Model with Rational Expectations
• Inflation Persistence
• Learning about monetary regime shifts in an overlapping wage contract model
• Learning rational expectations in a policy game
• Simplicity versus optimality: The choice of monetary policy rules when agents must learn
• The U. S. Phillips curve: The case for asymmetry
• The design of feedback rules in linear stochastic rational expectations models

Cited in

(15)

• Adjustment costs, learning, and indeterminacy
• 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
• A classification system for economic stochastic control models
• Learning and misperception of makeup strategies
• MONETARY POLICY RULES UNDER UNCERTAINTY: EMPIRICAL EVIDENCE, ADAPTIVE LEARNING, AND ROBUST CONTROL
• Learning and optimal monetary policy
• Learning, monetary policy rules, and macroeconomic stability
• The monetary policy response to uncertain inflation persistence
• Inflation targeting with NAIRU uncertainty and endogenous policy credibility
• Robust monetary policy with misspecified models: Does model uncertainty always call for attenuated policy?
• Monetary policy, learning and the speed of convergence
• Stochastic control for economic models: past, present and the paths ahead

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