2 citations
2 papers
econ.GN2020
Policy Maker's Credibility with Predetermined Instruments for Forward-Looking Targets
Jean-Bernard Chatelain, Kirsten Ralf
The aim of the present paper is to provide criteria for a central bank of how to choose among different monetary-policy rules when caring about a number of policy targets such as t…
math.OC2020★ 2 cited
The Welfare of Ramsey Optimal Policy Facing Auto-Regressive Shocks
Jean-Bernard Chatelain, Kirsten Ralf
With non-controllable auto-regressive shocks, the welfare of Ramsey optimal policy is the solution of a single Riccati equation of a linear quadratic regulator. The existing theory…