Monetary Policy after the Great Moderation
نویسندگان
چکیده
منابع مشابه
Monetary Policy and the Great Moderation Monetary Policy and the Great Moderation
Increased focus on price stability by a discretionary central bank reduces output and price volatility in a model with rationally inattentive …rms. The volatility reduction can be arbitrarily large, e.g., imply a 'Great Moderation', and is particularly pronounced when …rms can process information almost perfectly. The model-implied vector auto-regressive (VAR) dynamics are consistent with the e...
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Increased focus on price stability by a discretionary central bank reduces output and price volatility in a model with rationally inattentive rms. The volatility reduction can be arbitrarily large, e.g., imply a Great Moderation, and is particularly pronounced when rms can process information almost perfectly. The model-implied vector auto-regressive (VAR) dynamics are consistent with the e...
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ژورنال
عنوان ژورنال: Journal of Central Banking Theory and Practice
سال: 2020
ISSN: 2336-9205
DOI: 10.2478/jcbtp-2020-0033