On the robustness of simple and optimal monetary policy rules

• 成果类型: Editorial Material
• 署名作者: Tetlow, Robert J.
• 署名单位: Federal Reserve System - USA; Federal Reserve System Board of Governors
• 刊物名称: JOURNAL OF MONETARY ECONOMICS
• ISSN/ISSBN: 0304-3932
• DOI: 10.1016/j.jmoneco.2007.06.014
• 发表日期: 2007
• 页码: 1397-1405
• 关键词: Monetary policy; uncertainty; Robustness; Minimax; minimax regret; frequency domain

摘要

This is a discussion of the paper Simple versus Optimal Rules as Guides to Policy by Brock, Durlauf, Nason and Rondina (BDNR) presented in November 2006 at Carnegie-Mellon University under the auspices of the Carnegie-Rochester Conference Series on Public Policy. I review the authors' arguments, present a few suggestions for extension and outline where I think at least one strand of the literature should be heading. Published by Elsevier B.V.