TAILIEUCHUNG - Robust learning stability with operational monetary policy rules

We find that for operational forms of policy rules, ie rules that do not depend on contemporaneous values of endogenous aggregate variables, many interest-rate rules do not exhibit robust stability. We consider a variety of interest-rate rules, including instrument rules, optimal reaction functions under discretion or commitment, and rules that approximate optimal policy under commitment. | George W Evans - Seppo Honkapohja Robust le operation rUles rning stability with l monetary policy EUROJARJESTELMA EUROSYSTEMET Bank of Finland Research Discussion Papers 31 2007 Suomen Pankki Bank of Finland PO Box 160 FI-00101 HELSINKI Finland 8 358 10 8311 http Bank of Finland Research Discussion Papers 31 2007 George W Evans - Seppo Honkapohja Robust learning stability with operational monetary policy rules The views expressed in this paper are those of the authors and do not necessarily reflect the views of the Bank of Finland. University of Oregon and University of St. Andrews Corresponding author. Bank of Finland and University of Cambridge. E-mail . Paper prepared for the 11th Annual Conference of the Central Bank of Chile Monetary Policy Under Uncertainty and Learning November 15-16 2007. We thank our discussant Claes Berg Carl Walsh and the conference participants for their valuable comments. Support from National Science Foundation Grant No. SES-0617859 and ESRC grant RES-000-23-1152 is gratefully acknowledged. The paper can be downloaded without charge from http or from the Social Science Research Network electronic library at http abstract_id .

• Ngân hàng - Tín dụng
• Operational monetary policy rules
• Monetary policy
• Interest rate setting
• Adaptive learning
• Optimal policy
• Retailers optimal pricing
• Replenishment policy
• Replenishment quantity
• Price dependent demand
• Used product
• Income inequality
• Optimal taxation
• Maximum entropy algorithm
• Alternative maximum entropy approach
• Optimal taxation policy
• Financial Intermediation
• Optimal Rate
• FISCAL POLICY
• Tax Policy
• Strategic Planning
• Treasury Securities
• Inventory model
• Stock dependent demand
• Differential equation
• Hazard function
• Market Segmentation
• Inventory Production System
• Optimal Control Problem
• Production policy
• Multi product inventory system
• A course in monetary economics
• Monetary economics
• Optimal fiscal
• Sticky prices
• Optimal quantity choices
• Flexible prices
• Discounted cash flow
• Optimal production scheduling
• Production inventory policy
• Extended production inventory model
• Controlling production systems
• Price and promotional effort policy
• Differentiated and market promotion effort
• Maximum principle
• Differential evolution algorithm
• State budget
• Tax burden
• Macroeconomical stabilization
• Optimal tax burden
• Budget system
• economic policy
• agricultural projects
• agro forestry techniques
• livestock farming
• agribusiness
• Research for Agricultural Sciences
• Strategic Behaviour
• Optimal Behaviour
• Decision Processes
• Policy Improvement
• Static Games
• Dynamic Games
• religion and welfare state
• substitute mecha
• Recent Trends
• Developments
• Family Based Studies
• Complex Disorders
• Closing Costs
• Refinancing
• Clinical Course
• Survival
• Endoscopic Management
• Palliative Therapy
• Forwarding
• Parasitic Diseases
• Transmission Biology
• Myxozoa
• Metazoan Parasaites
• European Sea Bass
• the Hoabinh reservoir
• Modelling the Hoabi
• Stochastic Dynamic Programming
• Policy Search
• Historical operation
• Dynamic pricing
• Price discount dependent demand
• Optimal price settings
• Imperfect item
• Partial backlogging
• Applied corporate finance
• Corporate finance
• Capital structure
• The optimal financial mix
• The financing details
• Dividend policy
• Purchasing selection
• Hospitality industry
• Distribution systems
• Supplier channels
• Hospitality operations
• Optimal payment policy
• crucial component
• informed policy response
• research and development
• Emerging Roles
• Prostaglandins
• Transcription
• Triangular fuzzy number
• Signed distance method
• Fixed planning horizon