Performance of monetary policy with internal central bank forecasting

Seppo Honkapohja and Kaushik Mitra

No 3/2002, Bank of Finland Research Discussion Papers from Bank of Finland

Abstract: Recent models of monetary policy have analysed the desirability of different optimal and ad hoc interest-rate rules under the restrictive assumption that forecasts of the private sector and central bank are homogeneous.In this paper, we study from a learning perspective the implications of heterogeneity across forecasts by the central bank and private agents for the performance of interest-rate rules.

Keywords: adaptive learning; stability; heterogeneity; monetary policy (search for similar items in EconPapers)
JEL-codes: D84 E31 E52 (search for similar items in EconPapers)
Date: 2002
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.econstor.eu/bitstream/10419/211907/1/bof-rdp2002-003.pdf (application/pdf)

Related works:
Journal Article: Performance of monetary policy with internal central bank forecasting (2005)
Working Paper: Performance of Monetary Policy with Internal Central Bank Forecasting (2004)
Working Paper: Performance of monetary policy with internal central bank forecasting (2002)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:zbw:bofrdp:rdp2002_003

Access Statistics for this paper

More papers in Bank of Finland Research Discussion Papers from Bank of Finland Contact information at EDIRC.
Bibliographic data for series maintained by ZBW - Leibniz Information Centre for Economics ().