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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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Publisher:
Department of Economics (University of Oxford)
Series:
Discussion paper series
Publication date:
2003-01-01
Language:
English
UUID:
uuid:df2b998c-630a-457c-b74f-1437084f589b
Local pid:
ora:1212
Deposit date:
2011-08-16

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