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The Performance of Forecast-Based Monetary Policy Rulesunder Model Uncertainty
by: samanta, 53 pagesIn recent years, a number of researchers have advocated monetary policy rules for setting the short-term nominal interest rate rules in response to forecasts of inflation, rather than recent outcomes ...
Inflation Targeting under Imperfect Knowledge
by: samanta, 48 pagesA central tenet of inflation targeting is that establishing and maintaining well-anchored inflation expectations are essential. In this paper, we reexamine the role of key elements of the inflation ...
MONETARY POLICY, DETERMINACY, AND LEARNABILITY IN THE OPEN ECONOMY
by: samanta, 62 pagesWe study how determinacy and learnability of global rational expectations equilibrium maybe affected by monetary policy in a simple, two country, New Keynesian framework. The two blocks ...
Inflation Targeting and Exchange Rate Rules in an Open Economy
by: samanta, 37 pagesThis paper provides a simple dynamic neo-Keynesian model that can be used to analyze the impact of monetary policy that considers inflation targeting in a small open economy. This economy is ...
THE GREAT INFLATION, LIMITED ASSET MARKETS PARTICIPATION AND AGGREGATE DEMAND: FED POLICY WAS BETTER THAN YOU THINK
by: samanta, 42 pagesWhen enough agents do not participate in asset markets, the slope of the aggregate demand curve is reversed. Monetary policy should be passive, to ensure equilibrium determinacy and to minimize ...
Adaptive Learning and Monetary Policy in an Open Economy: Lessons from Japan
by: samanta, 35 pagesMotivated by Japan's economic experiences and policy debates over the past two decades, this paper uses an open economy dynamic stochastic general equilibrium model to examine the volatility and ...
