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Commentary.
- Source :
- Review (00149187); Jul/Aug2008, Vol. 90 Issue 4, p301-305, 5p
- Publication Year :
- 2008
-
Abstract
- The article presents the author's perspectives on the study by Lars Svensson and Noah Williams on addressing uncertainty in optimal monetary policy through experimentation using Markov jump linear-quadratic control algorithms in the U.S. He remarks that the study is an important contribution in analyzing Bayesian optimal monetary policy in an environment in which the central bank faces a set of competing models to update its probability assessments of the actual economic model.
- Subjects :
- MONETARY policy
MARKOV processes
ECONOMIC models
CENTRAL banking industry
Subjects
Details
- Language :
- English
- ISSN :
- 00149187
- Volume :
- 90
- Issue :
- 4
- Database :
- Complementary Index
- Journal :
- Review (00149187)
- Publication Type :
- Academic Journal
- Accession number :
- 33160156
- Full Text :
- https://doi.org/10.20955/r.90.301-306