On the robustness of simple and optimal monetary policy rules

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.