Key Findings
نویسندگان
چکیده
Apart from inherent conservatism, this approach can be grounded in the theoretical findings of Brainard (1967) that faced with model uncertainty the appropriate policy response is normally to “do less” than under conditions of certainty. Shuetrim and Thompson (ST) describe this result. Under some conditions, this result does not hold, and it is theoretically possible, as shown by ST, for the optimal policy response to be to “do more” under uncertainty.
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تاریخ انتشار 2000