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Citations for "Robust Monetary Policy with Competing Reference Models"

by John C. Williams & Andrew T. Levin

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  1. Harald Uhlig, 2007. "Monetary Policy in Europe versus the United States: What Explains the Difference?," NBER Chapters, in: International Dimensions of Monetary Policy, pages 489-533 National Bureau of Economic Research, Inc.
  2. Walsh, Carl E., 2005. "Endogenous objectives and the evaluation of targeting rules for monetary policy," Journal of Monetary Economics, Elsevier, Elsevier, vol. 52(5), pages 889-911, July.
  3. Sevim Kosem Alp, 2010. "Optimal Monetary Policy under Sectoral Heterogeneity in Inflation Persistence (Sektorel Enflasyon Ataleti Farkliligi Altinda Optimal Para Politikasi)," Working Papers 1004, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
  4. William A. Brock & Steven N. Durlauf & Kenneth D. West, 2003. "Policy Evaluation in Uncertain Economic Environments," NBER Working Papers 10025, National Bureau of Economic Research, Inc.
  5. Küster, Keith & Wieland, Volker, 2005. "Insurance Policies for Monetary Policy in the Euro Area," CEPR Discussion Papers, C.E.P.R. Discussion Papers 4956, C.E.P.R. Discussion Papers.
  6. Meixing DAI & Eleftherios SPYROMITROS, 2008. "Monetary policy, asset prices and model uncertainty," Working Papers of BETA 2008-15, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
  7. Marco Del Negro & Frank Schorfheide, 2007. "Monetary Policy Analysis with Potentially Misspecified Models," NBER Working Papers 13099, National Bureau of Economic Research, Inc.
  8. International Monetary Fund, 2005. "Inflation Targeting and Output Growth," IMF Working Papers 05/89, International Monetary Fund.
  9. Bennett T. McCallum & Edward Nelson, 2005. "Commentary on "targeting versus instrument rules for monetary policy: what is wrong with McCallum and Nelson?"," Review, Federal Reserve Bank of St. Louis, issue Sep, pages 627-632.
  10. Timothy Kam & Kirdan Lees & Philip Liu, 2006. "Uncovering The Hit-List For Small Inflation Targeters: A Bayesian Structural Analysis," ANU Working Papers in Economics and Econometrics, Australian National University, College of Business and Economics, School of Economics 2006-473, Australian National University, College of Business and Economics, School of Economics.
  11. Ryan Chahrour & Justin Svec, 2014. "Optimal Capital Taxation and Consumer Uncertainty," Boston College Working Papers in Economics, Boston College Department of Economics 854, Boston College Department of Economics.
  12. Ray C. Fair, 2006. "Evaluating Inflation Targeting Using a Macroeconometric Model," Cowles Foundation Discussion Papers, Cowles Foundation for Research in Economics, Yale University 1570, Cowles Foundation for Research in Economics, Yale University, revised Mar 2007.
  13. Jan KODERA & Van Quang TRAN, 2013. "Monetary Policy as an Optimal Control Problem," European Financial and Accounting Journal, University of Economics, Prague, University of Economics, Prague, vol. 2013(1), pages 18-38.
  14. Pauline Barrieu & Sinclair Desgagné, 2009. "Economic policy when models disagree," Grantham Research Institute on Climate Change and the Environment Working Papers, Grantham Research Institute on Climate Change and the Environment 4, Grantham Research Institute on Climate Change and the Environment.
  15. William A. Brock & Steven N. Durlauf & Kenneth D. West, 2004. "Model Uncertainty and Policy Evaluation: Some Theory and Empirics," NBER Working Papers 10916, National Bureau of Economic Research, Inc.
  16. Robert J. Tetlow & Brian Ironside, 2006. "Real-time model uncertainty in the United States: the Fed from 1996-2003," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) 2006-08, Board of Governors of the Federal Reserve System (U.S.).
  17. Lars E.O. Svensson & Michael Woodford, 2004. "Implementing Optimal Policy through Inflation-Forecast Targeting," NBER Chapters, in: The Inflation-Targeting Debate, pages 19-92 National Bureau of Economic Research, Inc.
  18. Fatih Guvenen, 2005. "A Parsimonious Macroeconomic Model for Asset Pricing: Habit Formation of Cross-sectional Heterogeneity?," Finance, EconWPA 0507009, EconWPA.
  19. Lars E.O. Svensson & Robert J. Tetlow, 2005. "Optimal Policy Projections," International Journal of Central Banking, International Journal of Central Banking, International Journal of Central Banking, vol. 1(3), December.
  20. Rondina, Francesca, 2012. "The role of model uncertainty and learning in the US postwar policy response to oil prices," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 36(7), pages 1009-1041.
  21. Athanasios Orphanides & John C. Williams, 2008. "Imperfect Knowledge and the Pitfalls of Optimal Control Monetary Policy," Working Papers, Central Bank of Cyprus 2008-5, Central Bank of Cyprus.
  22. John C. Williams, 2009. "Heeding Daedalus: Optimal inflation and the zero lower bound," Working Paper Series, Federal Reserve Bank of San Francisco 2009-23, Federal Reserve Bank of San Francisco.
  23. Bodenstein Martin R. & Armenter Roc, 2009. "Of Nutters and Doves," The B.E. Journal of Macroeconomics, De Gruyter, De Gruyter, vol. 9(1), pages 1-22, September.
  24. Andrew T. Levin & Alexei Onatski & John C. Williams & Noah Williams, 2005. "Monetary policy under uncertainty in micro-founded macroeconometric models," Working Paper Series, Federal Reserve Bank of San Francisco 2005-15, Federal Reserve Bank of San Francisco.
  25. Schmidt, Sebastian & Wieland, Volker, 2012. "The new keynesian approach to dynamic general equilibrium modeling: Models, methods, and macroeconomic policy evaluation," IMFS Working Paper Series 52, Institute for Monetary and Financial Stability (IMFS), Goethe University Frankfurt.
  26. Gavin, William T. & Keen, Benjamin D. & Pakko, Michael R., 2009. "Inflation Risk And Optimal Monetary Policy," Macroeconomic Dynamics, Cambridge University Press, Cambridge University Press, vol. 13(S1), pages 58-75, May.
  27. Vanina Forget, 2012. "Doing well and doing good: a multi-dimensional puzzle," Working Papers hal-00672037, HAL.
  28. Athanasios Orphanides & John C. Williams, 2003. "Inflation scares and forecast-based monetary policy," Working Paper Series, Federal Reserve Bank of San Francisco 2003-11, Federal Reserve Bank of San Francisco.
  29. Mandler, Martin, 2006. "Are there gains from including monetary aggregates and stock market indices in the monetary policy reaction function? A simulation study of recent U.S. monetary policy," MPRA Paper 2318, University Library of Munich, Germany.
  30. Branch, William A. & McGough, Bruce, 2010. "Dynamic predictor selection in a new Keynesian model with heterogeneous expectations," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 34(8), pages 1492-1508, August.
  31. Athanasios Orphanides & John C. Williams, 2008. "Learning, Expectations Formation, and the Pitfalls of Optimal Control Monetary Policy," Working Papers, Central Bank of Cyprus 2008-3, Central Bank of Cyprus.
  32. Gorodnichenko, Yuriy & Shapiro, Matthew D., 2007. "Monetary policy when potential output is uncertain: Understanding the growth gamble of the 1990s," Journal of Monetary Economics, Elsevier, Elsevier, vol. 54(4), pages 1132-1162, May.
  33. Antonio Noriega & Carlos Capistrán & Manuel Ramos-Francia, 2013. "On the dynamics of inflation persistence around the world," Empirical Economics, Springer, Springer, vol. 44(3), pages 1243-1265, June.
  34. Brock, William A. & Durlauf, Steven N., 2005. "Local robustness analysis: Theory and application," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 29(11), pages 2067-2092, November.
  35. Pelin Ilbas, 2006. "Optimal Monetary Policy rules for the Euro area in a DSGE framework," Center for Economic Studies - Discussion papers, Katholieke Universiteit Leuven, Centrum voor Economische Studiën ces0613, Katholieke Universiteit Leuven, Centrum voor Economische Studiën.
  36. Dennis, Richard, 2010. "How robustness can lower the cost of discretion," Journal of Monetary Economics, Elsevier, Elsevier, vol. 57(6), pages 653-667, September.
  37. Q. Farooq Akram & Ragnar Nymoen, 2006. "Model selection for monetary policy analysis – Importance of empirical validity," Working Paper, Norges Bank 2006/13, Norges Bank.
  38. Cohen-Cole, Ethan B. & Durlauf, Steven N. & Rondina, Giacomo, 2012. "Nonlinearities in growth: From evidence to policy," Journal of Macroeconomics, Elsevier, Elsevier, vol. 34(1), pages 42-58.
  39. Marc P. Giannoni, 2010. "Optimal Interest-Rate Rules in a Forward-Looking Model, and Inflation Stabilization versus Price-Level Stabilization," NBER Working Papers 15986, National Bureau of Economic Research, Inc.
  40. Juan Paez-Farrell, 2012. "Resuscitating the ad hoc loss function for monetary policy analysis," Discussion Paper Series 2012_06, Department of Economics, Loughborough University, revised Jun 2012.
  41. Bennett T. McCallum & Edward Nelson, 2005. "Targeting versus instrument rules for monetary policy," Review, Federal Reserve Bank of St. Louis, issue Sep, pages 597-612.
  42. Richard Mash, 2003. "New Keynesian Microfoundations Revisited: A Calvo-Taylor-Rule-of-Thumb Model and Optimal Monetary Policy Delegation," Economics Series Working Papers 174, University of Oxford, Department of Economics.
  43. Fabrizio Zampolli, 2006. "Optimal monetary policy in a regime-switching economy: the response to abrupt shifts in exchange rate dynamics," Bank of England working papers 297, Bank of England.
  44. Orphanides, Athanasios & Williams, John C., 2007. "Robust monetary policy with imperfect knowledge," Working Paper Series, European Central Bank 0764, European Central Bank.
  45. Adalid, Ramón & Coenen, Günter & McAdam, Peter & Siviero, Stefano, 2005. "The performance and robustness of interest-rate rules in models of the euro area," Working Paper Series, European Central Bank 0479, European Central Bank.
  46. Federico Ravenna, 2014. "How Central Banks Learn the True Model of the Economy," Cahiers de recherche, CIRPEE 1409, CIRPEE.
  47. Gino Cateau, 2005. "Monetary Policy under Model and Data-Parameter Uncertainty," Working Papers, Bank of Canada 05-6, Bank of Canada.
  48. Carl E. Walsh, 2003. "Implications of a changing economic structure for the strategy of monetary policy," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, Federal Reserve Bank of Kansas City, pages 297-348.
  49. Carlo Altavilla & Matteo Ciccarelli, 2009. "The Effects of Monetary Policy on Unemployment Dynamics Under Model Uncertainty. Evidence from the US and the Euro Area," CSEF Working Papers, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy 231, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
  50. Nicholas Apergis & Stephen M. Miller & Alexandros Panethimitakis & Athanassios Vamvakidis, 2005. "Inflation Targeting and Output Growth: Evidence from Aggregate European Data," Working papers, University of Connecticut, Department of Economics 2005-06, University of Connecticut, Department of Economics.
  51. Uhlig, Harald, 2007. "Monetary policy in Europe vs the US: what explains the difference?," MPRA Paper 14119, University Library of Munich, Germany.
  52. Argia M. Sbordone, 2007. "Inflation persistence: alternative interpretations and policy implications," Staff Reports, Federal Reserve Bank of New York 286, Federal Reserve Bank of New York.
  53. Traficante, Guido, 2012. "Uncertain potential output: implications for monetary policy in small open economy," Dynare Working Papers 22, CEPREMAP.
  54. Cosmin Ilut, 2009. "Ambiguity Aversion: Implications For The Uncovered Interest Rate Parity Puzzle," 2009 Meeting Papers, Society for Economic Dynamics 328, Society for Economic Dynamics.
  55. Pauline Barrieu & Bernard Sinclair-Desgagné, 2009. "Economic Policy when Models Disagree," CIRANO Working Papers, CIRANO 2009s-03, CIRANO.
  56. Scott Davis & Kevin X.D. Huang, 2011. "Optimal monetary policy under financial sector risk," Globalization and Monetary Policy Institute Working Paper, Federal Reserve Bank of Dallas 85, Federal Reserve Bank of Dallas.
  57. Moessner, Richhild, 2005. "Optimal discretionary policy and uncertainty about inflation persistence," Working Paper Series, European Central Bank 0540, European Central Bank.
  58. John C. Williams, 2006. "Robust estimation and monetary policy with unobserved structural change," Economic Review, Federal Reserve Bank of San Francisco, Federal Reserve Bank of San Francisco, pages 1-16.
  59. Marc P. Giannoni, 2007. "Robust optimal monetary policy in a forward-looking model with parameter and shock uncertainty," Journal of Applied Econometrics, John Wiley & Sons, Ltd., John Wiley & Sons, Ltd., vol. 22(1), pages 179-213.
  60. Dennis, Richard & Ravenna, Federico, 2008. "Learning and optimal monetary policy," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 32(6), pages 1964-1994, June.
  61. Pei-Tha Gan, 2014. "The Optimal Economic Uncertainty Index: A Grid Search Application," Computational Economics, Society for Computational Economics, Society for Computational Economics, vol. 43(2), pages 159-182, February.
  62. Jan Przystupa & Ewa Wrobel, 2006. "Looking for an Optimal Monetary Policy Rule: The Case of Poland under IT Framework," National Bank of Poland Working Papers, National Bank of Poland, Economic Institute 38, National Bank of Poland, Economic Institute.
  63. Athanasios Orphanides & John C. Williams, 2010. "Monetary Policy Mistakes and the Evolution of Inflation Expectations," Working Papers, Central Bank of Cyprus 2010-2, Central Bank of Cyprus.
  64. Giannoni, Marc P., 2014. "Optimal interest-rate rules and inflation stabilization versus price-level stabilization," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 41(C), pages 110-129.
  65. Zhao, Mingjun, 2007. "Monetary policy under misspecified expectations," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 31(4), pages 1278-1299, April.
  66. Uluc Aysun, 2006. "Testing for Balance Sheet Effects in Emerging Market Countries," Working papers, University of Connecticut, Department of Economics 2006-28, University of Connecticut, Department of Economics.
  67. Gregory Thwaites, 2006. "Optimal emerging market fiscal policy when trend output growth is unobserved," Bank of England working papers 308, Bank of England.
  68. Brock,W.A. & Durlauf,S.N., 2004. "Macroeconomics and model uncertainty," Working papers, Wisconsin Madison - Social Systems 20, Wisconsin Madison - Social Systems.
  69. Klaus Schmidt-Hebbel & Carl E. Walsh, 2009. "Monetary Policy under Uncertainty and Learning: An Overview," Central Banking, Analysis, and Economic Policies Book Series, in: Klaus Schmidt-Hebbel & Carl E. Walsh & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series (ed.), Monetary Policy under Uncertainty and Learning, edition 1, volume 13, chapter 1, pages 001-025 Central Bank of Chile.
  70. Pavasuthipaisit, Robert, 2007. "Monetary policy responses amid credit and asset booms and busts," MPRA Paper 4491, University Library of Munich, Germany.
  71. Bofinger, Peter & Mayer, Eric, 2006. "The Svensson versus McCallum and Nelson Controversy Revisited in the BMW Framework," W.E.P. - Würzburg Economic Papers 67, University of Würzburg, Chair for Monetary Policy and International Economics.
  72. Gregory E. Givens, 2012. "Estimating Central Bank Preferences under Commitment and Discretion," Journal of Money, Credit and Banking, Blackwell Publishing, Blackwell Publishing, vol. 44(6), pages 1033-1061, 09.
  73. Meixing Dai & Eleftherios Spyromitros, 2009. "Accountability and Transparency about Central Bank Preferences for Model Robustness," Working Papers of BETA 2009-18, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
  74. Jarkko Jääskelä & Jack McKeown, 2005. "Misperceptions and monetary policy in a New Keynesian model," Bank of England working papers 278, Bank of England.
  75. Richard Dennis, 2008. "Model Uncertainty And Monetary Policy," CAMA Working Papers 2009-04, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
  76. Winford H. Masanjala & Chris Papageorgiou, 2008. "Rough and lonely road to prosperity: a reexamination of the sources of growth in Africa using Bayesian model averaging," Journal of Applied Econometrics, John Wiley & Sons, Ltd., John Wiley & Sons, Ltd., vol. 23(5), pages 671-682.
  77. Robert Baumann & Justin Svec, 2013. "The Impact of Political Uncertainty: A Robust Control Approach," Working Papers, College of the Holy Cross, Department of Economics 1306, College of the Holy Cross, Department of Economics.
  78. Ray Fair, 2006. "Evaluating Inflation Targeting Using a Macroeconometric Model," Yale School of Management Working Papers, Yale School of Management amz2483, Yale School of Management, revised 01 Aug 2007.
  79. Walsh, Carl E., 2005. "Parameter misspecification and robust monetary policy rules," Working Paper Series, European Central Bank 0477, European Central Bank.
  80. Marc Giannoni, 2006. "Robust Optimal Policy in a Forward-Looking Model with Parameter and Shock Uncertainty," NBER Working Papers 11942, National Bureau of Economic Research, Inc.
  81. William A. Brock & Steven N. Durlauf & James M. Nason & Giacomo Rondina, 2007. "Simple versus optimal rules as guides to policy," Working Paper, Federal Reserve Bank of Atlanta 2007-07, Federal Reserve Bank of Atlanta.
  82. Sandra Gomes, 2004. "Monetary Policy in a Currency Union with National Price Asymmetries," Working Papers, Banco de Portugal, Economics and Research Department w200416, Banco de Portugal, Economics and Research Department.
  83. Levin, Andrew T. & Moessner, Richhild, 2005. "Inflation persistence and monetary policy design: an overview," Working Paper Series, European Central Bank 0539, European Central Bank.
  84. Cogley, Timothy & Matthes, Christian & Sbordone, Argia M., 2014. "Optimized Taylor Rules for Disinflation When Agents are Learning," Working Paper, Federal Reserve Bank of Richmond 14-7, Federal Reserve Bank of Richmond.
  85. Siklos, Pierre L., 2006. "Managed floating as a strategy to achieve selected monetary policy objectives," Journal of Economics and Business, Elsevier, Elsevier, vol. 58(5-6), pages 447-464.
  86. Teruyoshi Kobayashi, 2008. "Incomplete Interest Rate Pass-Through and Optimal Monetary Policy," International Journal of Central Banking, International Journal of Central Banking, International Journal of Central Banking, vol. 4(3), pages 77-118, September.
  87. Bursian, Dirk & Roth, Markus, 2013. "Optimal policy and taylor rule cross-checking under parameter uncertainty," SAFE Working Paper Series 30, Research Center SAFE - Sustainable Architecture for Finance in Europe, Goethe University Frankfurt.
  88. ALISTAIR DIEPPE & KEITH KÜSTER & PETER McADAM, 2005. "Optimal Monetary Policy Rules for the Euro Area: An Analysis Using the Area Wide Model," Journal of Common Market Studies, Wiley Blackwell, Wiley Blackwell, vol. 43(3), pages 507-537, 09.
  89. Fuhrer, Jeffrey C., 2010. "Inflation Persistence," Handbook of Monetary Economics, Elsevier, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 9, pages 423-486 Elsevier.
  90. Julian Pérez Amaya, . "Evaluación de Reglas de Tasa de Interés en un Modelo de Economía Pequeña y Abierta," Borradores de Economia 385, Banco de la Republica de Colombia.
  91. Mandler, Martin, 2009. "In search of robust monetary policy rules - Should the Fed look at money growth or stock market performance?," Journal of Macroeconomics, Elsevier, Elsevier, vol. 31(2), pages 345-361, June.
  92. Roger Koppl & William Luther, 2012. "Hayek, Keynes, and modern macroeconomics," The Review of Austrian Economics, Springer, Springer, vol. 25(3), pages 223-241, September.
  93. Carlo Altavilla & Matteo Ciccarelli, 2008. "Inflation models, optimal monetary policy and uncertain unemployment dynamics: Evidence from the US and the euro area," Discussion Papers, D.E.S. (Department of Economic Studies), University of Naples "Parthenope", Italy 8_2008, D.E.S. (Department of Economic Studies), University of Naples "Parthenope", Italy.
  94. Alexei Onatski & Noah Williams, 2004. "Empirical and policy performance of a forward-looking monetary model," Proceedings, Federal Reserve Bank of San Francisco, Federal Reserve Bank of San Francisco, issue Mar.
  95. Julián Pérez Amaya, 2006. "Evaluación De Reglas De Tasa De Interés En Un Modelo De Economía Pequeña Y Abierta," BORRADORES DE ECONOMIA 002638, BANCO DE LA REPÚBLICA.
  96. Kilponen, Juha & Leitemo, Kai, 2006. "Robustness in monetary policymaking: a case for the Friedman rule," Research Discussion Papers, Bank of Finland 4/2006, Bank of Finland.
  97. Amano, Robert, 2007. "Inflation persistence and monetary policy: A simple result," Economics Letters, Elsevier, Elsevier, vol. 94(1), pages 26-31, January.
  98. Cateau, Gino, 2007. "Monetary policy under model and data-parameter uncertainty," Journal of Monetary Economics, Elsevier, Elsevier, vol. 54(7), pages 2083-2101, October.