| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8176 |
| DP8176 Anticipated Alternative Instrument-Rate Paths in Policy Simulations | |
| Lars E.O. Svensson; Stefan Laséen | |
| 发表日期 | 2011-01-03 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | This paper specifies a new convenient algorithm to construct policy projections conditional on alternative anticipated policy-rate paths in linearized dynamic stochastic general equilibrium (DSGE) models, such as Ramses, the Riksbank's main DSGE model. Such projections with anticipated policy-rate paths correspond to situations where the central bank transparently announces that it, conditional on current information, plans to implement a particular policy-rate path and where this announced plan for the policy rate is believed and then anticipated by the private sector. The main idea of the algorithm is to include among the predetermined variables (the 'state' of the economy) the vector of nonzero means of future shocks to a given policy rule that is required to satisfy the given anticipated policy-rate path. |
| 主题 | International Macroeconomics |
| 关键词 | Instrument rules Optimal monetary policy Optimal policy projections Policy rules |
| URL | https://cepr.org/publications/dp8176 |
| 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/537013 |
| 推荐引用方式 GB/T 7714 | Lars E.O. Svensson,Stefan Laséen. DP8176 Anticipated Alternative Instrument-Rate Paths in Policy Simulations. 2011. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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