Monetary Policy, Expectations and Commitment

By George W. Evans, Seppo Honkapohja. 2006

233 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/7b3627662462e2fd64d291d4bff49ee463887c18

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In Economics and Econometrics

Citations in the corpus

Optimal Monetary Stabilization Policy (2010, background): “As a simple example, suppose that there are no cost-push disturbances {ut}, but that the natural rate of interest r t is negative in some periods.(29) In the absence of cost-push shocks, the characterization of optimal policy given above would require zero inflation (and a zero output gap) at all ti”
Macroeconomic Analysis Without the Rational Expectations Hypothesis (2013, methodology): “Authors such as Bullard and Mitra (2002) and Evans and Honkapohja (2003, 2006) propose as a design criterion for a monetary policy rule not only that the rule should be consistent with a desirable REE, but that the rule should imply that learning dynamics should converge to that REE, so that the…”
Heterogeneous Expectations in Monetary DSGE Models (2013, background): “…the economy, including de- 1Some recent examples of models with heterogeneous expectations in macroeconomics include Brock and de Fontnouvelle (2000), Evans and Honkapohja (2003, 2006), Branch and McGough (2009, 2010), Berardi (2007), Tuinstra and Wagener (2007), Brazier, Harrison, King, and Yates…”
Learning and Macroeconomics (2009, background): “Optimal monetary policy under learning has been considered by Evans and Honkapohja (2003c) under discretion and Evans and Honkapohja (2006) under commitment (using the “timeless perspective” described in Woodford (2003)).”
Liquidity traps, learning and stagnation ☆ (2008, background): “Commitment to an optimal policy rule can readily be handled within an adaptive learning approach, as discussed by Evans and Honkapohja (2003) and Evans and Honkapohja (2006) for monetary policy in normal times.”
Credit Frictions and Optimal Monetary Policy (2008, background): “For simplicity, the elasticities of labor supply of the two types are not assumed to differ.(13)”