Monetary policy as a source of uncertainty

Andre Calmon, Thomas Vallee and João B. R. Do Val
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João B. R. Do Val: FAPESP - Department of Telematics of the School of Electrical and Computer Engineering - UNICAMP - Universidade Estadual de Campinas = University of Campinas

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Abstract: This paper proposes a model in which control variations induce an increase in the uncertainty of the system. The aim of our paper is to provide a stochastic theoretical model that can be used to explain under which uncertainty conditions monetary policy rules should be less or more aggressive, or, simply, applied or not.

Date: 2009
Note: View the original document on HAL open archive server: https://hal.science/hal-00422454v1
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