| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6106 |
| DP6106 College Cost and Time to Complete a Degree: Evidence from Tuition Discontinuities | |
| Francesco Giavazzi; Andrea Ichino; Pietro Garibaldi; Enrico Rettore | |
| 发表日期 | 2007-02-14 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | We use robust control techniques to study the effects of model uncertainty on monetary policy in an estimated, semi-structural, small-open-economy model of the U.K. Compared to the closed economy, the presence of an exchange rate channel for monetary policy not only produces new trade-offs for monetary policy, but it also introduces an additional source of specification errors. We find that exchange rate shocks are an important contributor to volatility in the model, and that the exchange rate equation is particularly vulnerable to model misspecification, along with the equation for domestic inflation. However, when policy is set with discretion, the cost of insuring against model misspecification appears reasonably small. |
| 主题 | International Macroeconomics |
| 关键词 | Model misspecification Model uncertainty Robust control |
| URL | https://cepr.org/publications/dp6106 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534945 |
| 推荐引用方式 GB/T 7714 | Francesco Giavazzi,Andrea Ichino,Pietro Garibaldi,et al. DP6106 College Cost and Time to Complete a Degree: Evidence from Tuition Discontinuities. 2007. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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