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The strategy of monetary policy: targets, instruments and information variables

In: Optimal Monetary Policy under Uncertainty, Second Edition

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Abstract

Chapter 3 focuses on the optimal strategy for monetary policy with imperfect information. The intermediate targeting approach is considered. The optimal use of information variables is examined and shown to be equivalent to Poole’s concept of a combination policy. The final section of the chapter sets out a general framework for optimally filtering information to derive an informed policy setting.

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  • ., 2019. "The strategy of monetary policy: targets, instruments and information variables," Chapters, in: Optimal Monetary Policy under Uncertainty, Second Edition, chapter 3, pages 31-55, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:16504_3
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    Economics and Finance;

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