Learning about monetary policy rules

By James Bullard, K. Mitra. 2002

886 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/d45f5593f6dd69ee2b048e75fc3a244cfc260292

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In Economics and Econometrics

Citations in the corpus

Heterogeneous Expectations in Monetary DSGE Models (2013, positive): “In the context of a New Keynesian monetary model Bullard and Mitra (2002) assume that agents do not initially have rational expectations, and that they instead form forecasts by using recursive least squares. Using the E-stability(7) criterion they show that an interest rate rule that satisfies the ”
Multiple-solution indeterminacies in monetary policy analysis (2003, methodology): “Implementation of this procedure is tedious, however, and furthermore does not provide results pertaining to all of the non-MSV solutions.14 Fortunately, thorough analysis has been provided by the recent papers of Bullard and Mitra (2002) and Honkapohja and Mitra (2001).”
Learning About Monetary Policy Rules When Long-Horizon Expectations Matter (2003, positive): “Bullard and Mitra (2002) show a similar result in a learning analysis based on equations (13) and (14) and assuming the natural rate, rnt , to be specified as an AR (1) stochastic process.”
Expectations, Learning and Business Cycle Fluctuations (2011, neutral): “Key contributions include Bullard and Mitra (2002) and Evans and Honkapohja (2003).”
A New Keynesian model with heterogeneous expectations (2009, background): “…it is wonderfully elegant and wholly intuitive, it is known in general to be neither necessary nor sufficient to guarantee a unique equilibrium: see Bullard and Mitra (2002), Benigno and Woodford (2005), Carlstrom and Fuerst (2005).24 Both the Taylor principle, and the fact that it may be neither…”
Macroeconomic Analysis Without the Rational Expectations Hypothesis (2013, background): “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…”
Determinacy, Learnability, and Monetary Policy Inertia (2000, methodology): “As shown in Bernanke and Woodford (1997) and Bullard and Mitra (2002) , a sufficiently aggressive response to inflation or output leads to indeterminacy with the rule (5) when ϕ r = 0.”
Trend Inflation, Taylor Principle and Indeterminacy (2009, positive): “Furthermore, note that these results are in line with the analysis of Schmitt-Grohe and Uribe (2004a,b) and of Bullard and Mitra (2002).”
A Behavioral New Keynesian Model (2020, neutral): “1 We will use the following well-known fact (Bullard and Mitra (2002)):”
The science of monetary policy: an imperfect knowledge perspective (2018, neutral): “Bullard and Mitra (2002) establish this result with no interest-rate inertia in the case of the New Keynesian framework in which household and rm decisions depend upon one-period-ahead expectations.”