Optimal Monetary Policy Rules: The Problem of Stability under Heterogeneous Learning
AbstractWe test these monetary policy rules in the general setup of New Keynesian model that is a working horse of monetary policy models today. It is of interest to see that the results obtained by Evans and Honkapohja (2003) for homogeneous learning case are replicated for the case when the representative agent hypothesis is lifted.
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Bibliographic InfoPaper provided by Society for Economic Dynamics in its series 2007 Meeting Papers with number 713.
Date of creation: 2007
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Postal: Society for Economic Dynamics Christian Zimmermann Economic Research Federal Reserve Bank of St. Louis PO Box 442 St. Louis MO 63166-0442 USA
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