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- W4313368216 abstract "This study examines the optimal monetary policy delegation in a small-open new Keynesian model with model uncertainty. We show that under the worst-case equilibrium, nominal income growth targeting outperforms the considered alternative delegation regimes. We find that the response of the nominal exchange rate depends on the specifications of the delegated targeting regimes. Finally, introducing endogenous inflation persistence into the benchmark model does not affect our main findings." @default.
- W4313368216 created "2023-01-06" @default.
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- W4313368216 date "2023-03-01" @default.
- W4313368216 modified "2023-10-16" @default.
- W4313368216 title "Optimal monetary policy delegation in a small-open new Keynesian model with robust control" @default.
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- W4313368216 doi "https://doi.org/10.1016/j.econmod.2022.106154" @default.
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