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A Note on Simple MSV Solution Methods for Rational Expectations Models of Monetary Policy.

Abstract:
We analyse the derivation of optimal monetary policy under discretion and commitment when lagged expectations appear in the Phillips curve, making use of the comparatively simple MSV approach which does not require transformation of the model into state-space form.

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Richard Mash More by this author
Volume:
173
Series:
Discussion paper series
Publication date:
2003
URN:
uuid:df2b998c-630a-457c-b74f-1437084f589b
Local pid:
ora:1212
Language:
English

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