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Avoiding Nash Inflation : Bayesian and Robust Response to Model Uncertainty
Overview
This paper considers the design of monetary policy under uncertainty. Specifically, we usea simple model to jointly consider three things: learning by the monetary authority; model misspecification; and robust policies to counter the misspecification problems. To the best of ourknowledge, this is the first paper to simultaneously consider these crucial elements of real-world policy design.
This item is Non-Returnable
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Details
- ISBN-13: 9781505421989
- ISBN-10: 1505421985
- Publisher: Createspace Independent Publishing Platform
- Publish Date: December 2014
- Dimensions: 11.02 x 8.5 x 0.09 inches
- Shipping Weight: 0.28 pounds
- Page Count: 44
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