Monetary policy with model uncertainty : distribution forecast targeting /

Bibliographic Details
Main Author: Svensson, Lars E. O., 1947-
Other Authors: Williams, Noah
Format: Book
Language:English
Published: Frankfurt and Main : Deutsche Bundesbank, 2005
Series:Discussion paper (Deutsche Bundesbank). Series 1: economic studies no. 35/2005
Subjects:
Online Access:http://www.bundesbank.de/Redaktion/EN/Downloads/Publications/Discussion_Paper_1/2005/2005_09_27_dkp_35.pdf?__blob=publicationFile
Table of Contents:
  • 1. Introduction
  • 2. The model
  • 3. Interpretation of model uncertainty in our framework
  • 4. Examples
  • 5. Arbitrary time-varying instrument rules and instrument paths
  • 6. Arbitrary time-invariant instrument rules and optimal restricted instrument rules
  • 7. Unobservable modes
  • Conclusions
  • Appendix.