Monetary Policy Committees and Model Uncertainty

Monetary Policy Committees and Model Uncertainty

We introduce heterogeneity into a monetary policy committee by allowing the degree of model uncertainty to differ across members. It is shown that in this framework the stage at which members reach consensus matters. An aggregation protocol under which members only average policy deemed optimal from...

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Wedi'i Gadw mewn:
Manylion Llyfryddiaeth
Cyhoeddwyd yn:MAGKS - Joint Discussion Paper Series in Economics (Band 21-2010)
Prif Awdur: Tillmann, Peter
Fformat: Arbeit
Iaith:Saesneg
Cyhoeddwyd: Philipps-Universität Marburg 2010
Pynciau:
Monetary Policy Committee, Optimal Monetary Policy
Model Uncertainty
Wirtschaft
Robustness
Economics
Mynediad Ar-lein:Testun PDF llawn
Tagiau: Ychwanegu Tag
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