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Dangers of commitment under rational expectations

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  • George Waters

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Bibliographic Info

Article provided by Springer in its journal Journal of Economics and Finance.

Volume (Year): 35 (2011)
Issue (Month): 4 (October)
Pages: 371-381

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Handle: RePEc:spr:jecfin:v:35:y:2011:i:4:p:371-381

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Related research

Keywords: Monetary Policy; Interest Rate Rules; Commitment; E52; E31;

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References

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  1. Evans, George W & Honkapohja, Seppo, 2002. "Monetary Policy, Expectations and Commitment," CEPR Discussion Papers 3434, C.E.P.R. Discussion Papers.
  2. George W. Evans & Bruce McGough, 2005. "Optimal Constrained Interest-rate Rules," University of Oregon Economics Department Working Papers 2005-9, University of Oregon Economics Department, revised 31 May 2006.
  3. Richard Clarida & Jordi Galí & Mark Gertler, 1997. "Monetary policy rules and macroeconomic stability: Evidence and some theory," Economics Working Papers 350, Department of Economics and Business, Universitat Pompeu Fabra, revised May 1999.
  4. Clarida, Richard & Galí, Jordi & Gertler, Mark, 1999. "The Science of Monetary Policy: A New Keynesian Perspective," CEPR Discussion Papers 2139, C.E.P.R. Discussion Papers.
  5. Rogoff, Kenneth, 1985. "The Optimal Degree of Commitment to an Intermediate Monetary Target," The Quarterly Journal of Economics, MIT Press, vol. 100(4), pages 1169-89, November.
  6. Barro, Robert J & Gordon, David B, 1983. "A Positive Theory of Monetary Policy in a Natural Rate Model," Journal of Political Economy, University of Chicago Press, vol. 91(4), pages 589-610, August.
  7. George W. Evans & Bruce McGough, 2006. "Implementing Optimal Monetary Policy in New-Keynesian Models with Inertia," University of Oregon Economics Department Working Papers 2006-5, University of Oregon Economics Department.
  8. Jensen, Christian & McCallum, Bennett T., 2002. "The non-optimality of proposed monetary policy rules under timeless perspective commitment," Economics Letters, Elsevier, vol. 77(2), pages 163-168, October.
  9. Waters, George A., 2009. "Learning, Commitment, And Monetary Policy," Macroeconomic Dynamics, Cambridge University Press, vol. 13(04), pages 421-449, September.
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Cited by:
  1. Waters , George A., 2012. "Careful price level targeting," Research Discussion Papers 30/2012, Bank of Finland.

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