Title of article
Monetarypolicyunderfinancialuncertainty
Author/Authors
Noah Williams، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2012
Pages
17
From page
449
To page
465
Abstract
Monetarypolicymayplayasubstantialroleinmitigatingtheeffectsoffinancialcrises.
In thispaper,Isupposethattheeconomyoccasionallybutinfrequentlyexperiences
crises,wherefinancialvariablesaffectthebroadereconomy.Ianalyzeoptimal
monetarypolicyundersuchfinancialuncertainty,wherepolicymakersrecognizethe
possibilityofcrises.Optimalmonetarypolicyisaffectedduringthecrisisandinnormal
times, aspolicymakersguardagainstthepossibilityofcrises.Intheestimatedmodel
this effectisquitesmall.Optimalpolicydoeschangesubstantiallyduringacrisis,but
uncertaintyaboutcriseshasrelativelylittleeffect
Journal title
Journal of Monetary Economics
Serial Year
2012
Journal title
Journal of Monetary Economics
Record number
846534
Link To Document