| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w9430 |
| 来源ID | Working Paper 9430 |
| Optimal Policy with Partial Information in a Forward-Looking Model: Certainty-Equivalence Redux | |
| Lars E. O. Svensson; Michael Woodford | |
| 发表日期 | 2003-01-13 |
| 出版年 | 2003 |
| 语种 | 英语 |
| 摘要 | This paper proves a certainty equivalence result for optimal policy under commitment with symmetric partial information about the state of the economy in a model with forward-looking variables. This result is used in our previous paper, Indicator Variables for Optimal Policy,' which synthesizes what is known about the case of symmetric partial information, and derives useful general formulas for computation of the optimal policy response coefficients and efficient estimates of the state of the economy in the context of a fairly general forward-looking rational-expectations model. In particular, our proof takes into account that, under commitment, the policymaker can affect the future evolution of the observable variables, and thereby potentially affect the future information available. |
| 主题 | Macroeconomics ; Business Cycles ; Money and Interest Rates |
| URL | https://www.nber.org/papers/w9430 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/567049 |
| 推荐引用方式 GB/T 7714 | Lars E. O. Svensson,Michael Woodford. Optimal Policy with Partial Information in a Forward-Looking Model: Certainty-Equivalence Redux. 2003. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w9430.pdf（304KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
