Persistence-Dependent Optimal Policy Rules - HAL-SHS - Sciences de l'Homme et de la Société Access content directly
Preprints, Working Papers, ... Year : 2020

Persistence-Dependent Optimal Policy Rules

Abstract

A policy target (for example inflation) may depend on the persistent component of exogenous shocks, such as the cost-push shock of oil, energy or imported prices. The larger the persistence of these exogenous shocks, the larger the welfare losses and the larger the response of policy instrument to this exogenous shock in a feedback rule, in order to decrease the sensitivity of the policy target to this shock.
Fichier principal
Vignette du fichier
WP_202049_.pdf (531.88 Ko) Télécharger le fichier
Origin : Files produced by the author(s)
Loading...

Dates and versions

halshs-02919697 , version 1 (23-08-2020)

Identifiers

  • HAL Id : halshs-02919697 , version 1

Cite

Jean-Bernard Chatelain, Kirsten Ralf. Persistence-Dependent Optimal Policy Rules. 2020. ⟨halshs-02919697⟩
123 View
82 Download

Share

Gmail Facebook X LinkedIn More