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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Bibliographic Details
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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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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