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Robust Control and Persistence in New Keynesian Monetary Policy Analysis [Paperback]

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Item description for Robust Control and Persistence in New Keynesian Monetary Policy Analysis by Michael Paetz...

Diese Arbeit untersucht den Einfluss von Modellunsicherheit und persistentem Konsum- und Preissetzungsverhalten in neukeynesianischen Modellen, welche die Annahme rigider Preise mit modernen makrokonomischen Methoden verbinden und seit einigen Jahren der Standard in der geldpolitischen Analyse sind. Da eine Zentralbank ihre Zinssetzung unter Unsicherheit ber die Zusammenhnge der konomie fllt, wird mittels einer robusten Kontrollmethode durch Strung der Modellgleichungen ein worstcase Szenario untersucht. Die Analyse zeigt, dass die Verwendung einer regelgebundenen Geldpolitik, welche sich auf die Beeinflussung der Erwartungen der Wirtschaftssubjekte verlsst, unter Unsicherheit zu einer Destabilisierung der Volkswirtschaft fhren kann, wenn die Unsicherheit unbegrndet und das Referenzmodell zutreffend ist, da sowohl Erwartungen als auch Geldpolitik aus einem falschen Modell abgeleitet werden. Dies stellt die Vorteilhaftigkeit einer geldpolitischen Commitment Strategie in Frage und zeigt zudem, dass eine Absicherung gegen Unsicherheit nur auf Kosten der durchschnittlichen Gte der Geldpolitik erreicht werden kann.

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Item Specifications...

Pages   204
Est. Packaging Dimensions:   Length: 9.4" Width: 6.6" Height: 0.7"
Weight:   0.7 lbs.
Binding  Softcover
Release Date   Oct 7, 2007
Publisher   VDM Verlag Dr. Mueller e.K.
ISBN  3836432684  
ISBN13  9783836432689  

Availability  130 units.
Availability accurate as of May 27, 2017 08:07.
Usually ships within one to two business days from La Vergne, TN.
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Product Categories

1Books > Subjects > Business & Investing > Economics > Money & Monetary Policy
2Books > Subjects > Business & Investing > General

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