Asymmetric Preferences and the Stability Problem for Optimal Monetary Policy Rules

被引：0
|
作者：
Ikeda, Taro [1 ]
机构：
[1] Kobe Univ, Grad Sch Econ, Kobe, Hyogo, Japan
来源：
JOURNAL OF MONEY CREDIT AND BANKING | 2017年 / 49卷 / 08期
关键词：
asymmetric preferences; adaptive learning; optimal monetary policy rules; PROFESSIONAL FORECASTERS; INFLATION-EXPECTATIONS; MODEL;
D O I：
10.1111/jmcb.12451
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This paper evaluates the stability properties of optimal monetary policy rules when professionals under adaptive learning have asymmetric preferences. The asymmetric preferences require volatility estimates in real time. An expectations-based rule can stabilize the economy, while a fundamentals-based rule leads to instability.
引用
收藏
页码：1831 / 1838
页数：8
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