Unconditionally optimal monetary policy

Tatiana Damjanovic; Vladislav Damjanovic; Charles Nolan

Unconditionally optimal monetary policy

Tatiana Damjanovic
, Vladislav Damjanovic
, Charles Nolan

Research output: Working paper

Abstract

We develop a simple and intuitive approach for analytically deriving unconditionally optimal (UO) policies, a topic of enduring interest in optimal monetary policy analysis. The approach can be employed to both general linear-quadratic problems and to the underlying non-linear environments. We provide a detailed example using a canonical New Keynesian framework.

Original language	English
Publisher	University of St Andrews
Publication status	Published - 15 Oct 2007

Publication series

Name	Centre for Dynamic Macroeconomic Analysis, Working Paper
No.	0721

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AU - Damjanovic, Tatiana

AU - Damjanovic, Vladislav

AU - Nolan, Charles

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N2 - We develop a simple and intuitive approach for analytically deriving unconditionally optimal (UO) policies, a topic of enduring interest in optimal monetary policy analysis. The approach can be employed to both general linear-quadratic problems and to the underlying non-linear environments. We provide a detailed example using a canonical New Keynesian framework.

AB - We develop a simple and intuitive approach for analytically deriving unconditionally optimal (UO) policies, a topic of enduring interest in optimal monetary policy analysis. The approach can be employed to both general linear-quadratic problems and to the underlying non-linear environments. We provide a detailed example using a canonical New Keynesian framework.

UR - http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1031352

M3 - Working paper

T3 - Centre for Dynamic Macroeconomic Analysis, Working Paper

BT - Unconditionally optimal monetary policy

PB - University of St Andrews

ER -

Unconditionally optimal monetary policy

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