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Optimal Monetary Policy in a DSGE Model with Attenuated Forward Guidance Effects

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Abstract

In this article, we explore the implications of attenuating the power of forward guidance for the optimal conduct of forward guidance policy in a quantitative DSGE model of the U.S. economy.

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  • Hess T. Chung & Taisuke Nakata & Matthias Paustian, 2018. "Optimal Monetary Policy in a DSGE Model with Attenuated Forward Guidance Effects," FEDS Notes 2018-10-19, Board of Governors of the Federal Reserve System (U.S.).
    • Handle: RePEc:fip:fedgfn:2018-10-19
    DOI: 10.17016/2380-7172.2264
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    File URL: https://www.federalreserve.gov/econres/notes/feds-notes/optimal-monetary-policy-in-a-dsge-model-with-attenuated-forward-guidance-effects-20181019.htm
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    File URL: https://libkey.io/10.17016/2380-7172.2264?utm_source=ideas
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    Cited by:

    1. Hess T. Chung & Etienne Gagnon & Taisuke Nakata & Matthias Paustian & Bernd Schlusche & James Trevino & Diego Vilán & Wei Zheng, 2019. "Monetary Policy Options at the Effective Lower Bound : Assessing the Federal Reserve's Current Policy Toolkit," Finance and Economics Discussion Series 2019-003, Board of Governors of the Federal Reserve System (U.S.).
    2. Daisuke Fujii & Taisuke Nakata, 2021. "COVID-19 and output in Japan," The Japanese Economic Review, Springer, vol. 72(4), pages 609-650, October.
    3. Hess Chung & Etienne Gagnon & Taisuke Nakata & Matthias Paustian & Bernd Schlusche & James Trevino & Diego Vilán & Wei Zheng, 2020. "Monetary Policy Options at the Effective Lower Bound: Assessing the Federal Reserve’s Current Policy Toolkit," CARF F-Series CARF-F-483, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.

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