Konferenzbeitrag
News Shocks and Optimal Simple Rules
This paper evaluates the performance of optimal simple policy rules in the presence of news shocks. It is shown that the inclusion of forward-looking elements enhances the performance of simple optimized interest rate rules when agents learn about future disturbances in advance. We provide a rationale for this result by demonstrating that, if shocks are news shocks, the optimal unrestricted control rule under commitment contains as a basic principle a forward-looking element.
- Sprache
-
Englisch
- Erschienen in
-
Series: Beiträge zur Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie - Session: Advances of New Keynesian Macroeconomics ; No. G2-V3
- Klassifikation
-
Wirtschaft
Business Fluctuations; Cycles
Monetary Policy
Central Banks and Their Policies
- Thema
-
News Shocks
Optimal Simple Rules
Optimal Monetary Policy
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Wohltmann, Hans-Werner
Winkler, Roland C.
- Ereignis
-
Veröffentlichung
- (wer)
-
Verein für Socialpolitik
- (wo)
-
Frankfurt a. M.
- (wann)
-
2010
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
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Objekttyp
- Konferenzbeitrag
Beteiligte
- Wohltmann, Hans-Werner
- Winkler, Roland C.
- Verein für Socialpolitik
Entstanden
- 2010
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