Fundamental uncertainty and unconventional monetary policy- an info-gap approach
Maria Demertzis and
Jan Willem End ()
Working Papers from Bruegel
This paper applies the info-gap approach to the unconventional monetary policy of the Eurosystem and so takes into account the fundamental uncertainty on inflation shocks and the transmission mechanism. The outcomes show that a more demanding monetary strategy, in terms of lower tolerance for output and inflation gaps, entails less robustness against uncertainty, particularly if financial variables are taken into account. Augmenting the Taylor rule with a financial variable leads...
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Working Paper: Fundamental uncertainty and unconventional monetary policy: an info-gap approach (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:bre:wpaper:19317
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