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| Tekijä: | Evans, G. W. Honkapohja, S. |
| Otsikko: | Monetary policy, expectations and commitment |
| Lehti: | Scandinavian Journal of Economics
2006 : VOL. 108:1, p. 15-38 |
| Asiasana: | commitment interest rates learning monetary policy |
| Kieli: | eng |
| Tiivistelmä: | The objective of this article is to examine determinacy and stability under learning for alternative interest-rate reaction functions that aim to implement optimal monetary policy under commitment. Findings show that the two desiderata are met by a policy that sets interest rates according to our expectations-based reaction function. |
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