Unconditionally optimal monetary policy
提出一种简单直观的方法,用于解析推导无条件最优政策,适用于线性二次型问题及非线性环境,并以标准新凯恩斯框架为例详细说明。
We develop a simple and intuitive approach for analytically deriving unconditionally optimal (UO) policies, a topic of enduring interest in optimal monetary policy analysis. The approach can be employed in both general linear-quadratic problems and in the underlying non-linear environments. A detailed example is provided using a canonical New Keynesian framework.