A Guided Tour of the World of Rational Expectations Models and Optimal Policies

Philippe Jeanfils ()

Working Papers from Warwick - Development Economics Research Centre

Abstract: This working paper after quickly reviewing the different types of existing macro models presents some basic tools that have proved useful for analysing monetary policy in recent years. Through the use of a simple quantitative forward-looking model of output, inflation and interest rate determination, the paper tries to familiarise the reader with some of the techniques used in research on optimal policy, including rational expectations theory, timeconsistency analysis, the Lucas critique and computer simulation techniques.

Keywords: MACROECONOMICS; MONETARY POLICY; INFLATION; EXPECTATIONS (search for similar items in EconPapers)
JEL-codes: E52 E10 E17 (search for similar items in EconPapers)
Date: 2001

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Working Paper: A guided tour of the world of rational expectations models and optimal policies (2001)
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