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• W2036004022 abstract "This paper investigates the performance of optimised interest rate rules when there is uncertainty about a key determinant of the monetary transmission mechanism, namely the degree of persistence characterising the inflation process. The paper focuses on the euro area and utilises two variants of an estimated small-scale macroeconomic model featuring distinct types of staggered contracts specifications which induce quite different degrees of inflation persistence. The paper shows that a cautious monetary policy-maker is well-advised to design and implement interest rate policies under the assumption that inflation persistence is high when uncertainty about the prevailing degree of inflation persistence is pervasive." @default.
• W2036004022 created "2016-06-24" @default.
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• W2036004022 date "2003-01-01" @default.
• W2036004022 modified "2023-10-14" @default.
• W2036004022 title "Inflation Persistence and Robust Monetary Policy Design" @default.
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• W2036004022 doi "https://doi.org/10.2139/ssrn.487468" @default.
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