Monetary Policy with Uncertain Parameters
发现，与普遍看法相反，动态宏观经济模型中的参数不确定性可能导致更激进的货币政策，尤其是当通胀持续性不确定时，央行应更积极应对冲击以减少未来通胀的不确定性。
This paper shows that—in contrast to the received wisdom—uncertainty about the parameters in a dynamic macroeconomic model may lead to more aggressive monetary policy. In particular, when there is uncertainty about the persistence of inflation, it may be optimal for the central bank to respond to shocks more aggressively in order to reduce uncertainty about the future development of inflation. Uncertainty about other parameters, on the other hand, dampens the policy response.