Monetary policy loss functions: two cheers for the quadratic

Jagjit S. Chadha () and Philip Schellekens

Bank of England working papers from Bank of England

Abstract: The implications for optimal monetary policy of relaxing the normal assumption of a quadratic loss function are examined. Several alternative specifications are considered, but the results suggest that the convenient assumption of quadratic losses may not be that drastic.

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Related works:
Working Paper: Monetary Policy Loss Functions: Two Cheers for the Quadratic (1999)
Working Paper: Monetary policy loss functions: two cheers for the quadratic (1999)
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Persistent link: http://EconPapers.repec.org/RePEc:boe:boeewp:101

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