Optimal Monetary Policy in a Model with Recursive Preferences

Optimal Monetary Policy in a Model with Recursive Preferences

This paper provides a simple and elegance approach for an empirical investigation of a model with Epstein-Zin (1989) preferences. The perturbation method implemented in Dynare is readily applicable for computation of equilibrium and welfare. A stylized new Keynesian economy with sticky prices is ana...

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Main Author: An, Sungbae
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2010
Subjects:
Recursive preference
perturbation method
Dynare
Ramsey steady state
optimal simple rule.
Economic Policy
Finance
Online Access:https://ink.library.smu.edu.sg/soe_research/1259
https://ink.library.smu.edu.sg/context/soe_research/article/2258/viewcontent/opez.pdf
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Institution: Singapore Management University
Language: English
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spelling sg-smu-ink.soe_research-22582011-05-05T09:54:05Z Optimal Monetary Policy in a Model with Recursive Preferences An, Sungbae This paper provides a simple and elegance approach for an empirical investigation of a model with Epstein-Zin (1989) preferences. The perturbation method implemented in Dynare is readily applicable for computation of equilibrium and welfare. A stylized new Keynesian economy with sticky prices is analyzed and optimal simple rules are accessed across various types of monetary policy rules. 2010-05-01T07:00:00Z text application/pdf https://ink.library.smu.edu.sg/soe_research/1259 https://ink.library.smu.edu.sg/context/soe_research/article/2258/viewcontent/opez.pdf http://creativecommons.org/licenses/by-nc-nd/4.0/ Research Collection School Of Economics eng Institutional Knowledge at Singapore Management University Recursive preference perturbation method Dynare Ramsey steady state optimal simple rule. Economic Policy Finance
institution Singapore Management University
building SMU Libraries
continent Asia
country Singapore
Singapore
content_provider SMU Libraries
collection InK@SMU
language English
topic Recursive preference
perturbation method
Dynare
Ramsey steady state
optimal simple rule.
Economic Policy
Finance
spellingShingle Recursive preference
perturbation method
Dynare
Ramsey steady state
optimal simple rule.
Economic Policy
Finance
An, Sungbae
Optimal Monetary Policy in a Model with Recursive Preferences
description This paper provides a simple and elegance approach for an empirical investigation of a model with Epstein-Zin (1989) preferences. The perturbation method implemented in Dynare is readily applicable for computation of equilibrium and welfare. A stylized new Keynesian economy with sticky prices is analyzed and optimal simple rules are accessed across various types of monetary policy rules.
format text
author An, Sungbae
author_facet An, Sungbae
author_sort An, Sungbae
title Optimal Monetary Policy in a Model with Recursive Preferences
title_short Optimal Monetary Policy in a Model with Recursive Preferences
title_full Optimal Monetary Policy in a Model with Recursive Preferences
title_fullStr Optimal Monetary Policy in a Model with Recursive Preferences
title_full_unstemmed Optimal Monetary Policy in a Model with Recursive Preferences
title_sort optimal monetary policy in a model with recursive preferences
publisher Institutional Knowledge at Singapore Management University
publishDate 2010
url https://ink.library.smu.edu.sg/soe_research/1259
https://ink.library.smu.edu.sg/context/soe_research/article/2258/viewcontent/opez.pdf
_version_ 1770570995611992064

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