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Commentary.

Authors :
Levin, Andrew T.
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.

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