search query: @indexterm Monetary Policy / total: 1108
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| Author: | Dow, S.C. |
| Title: | Uncertainty and monetary policy |
| Journal: | Oxford Economic Papers
2004 : JUL, VOL. 56:3, p. 539-561 |
| Index terms: | Uncertainty Monetary policy Models |
| Language: | eng |
| Abstract: | The experience of monetary policy making in an uncertain environment has encouraged increased attention to the concept of model uncertainty (here as: unc.), that is, unc. as to which is the best model. After a discussion it is concluded that more analytical attention needs to be devoted to agentsÂ’ own model unc., and to judgement. But ultimately the scope for synthesis btw. the model unc. and Keynes unc. approaches rests on whether or not the subject matter is such that knowledge of it is best represented by one formal model. |
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