内容提要: 本文在泰勒等西方学者对货币政策反应函数研究的基础上, 构造一个适合我国国情的
前瞻性货币政策反应函数, 从市场利率(同业拆借利率), 管制利率(存贷款利率) …

This paper surveys the implications of uncertainty for the design of monetary policy. Among
the topics discussed are the impact of imperfect or noisy information on the performance of …

It is argued that inflation targeting is best understood as a commitment to a targeting rule
rather than an instrument rule, either a general targeting rule (explicit objectives for …

We would like to thank Jean Boivin, Rick Mishkin, Ed Nelson, and Lars Svensson for helpful
discussions, Brad Strum for research assistance, and the National Science Foundation for …

This paper considers the implications of an important source of model misspecification for
the design of monetary policy rules: the assumed manner of expectations formation …

The existing literature on robust monetary policy rules has largely focused on the case in
which the policymaker has a single reference model while the true economy lies within a …

В последние годы политика Банка России претерпела ряд кардинальных изменений,
среди которых можно выделить упразднение валютного коридора и переход к …

Abstract The Great Recession seems to be a natural experiment for macroeconomics
showing the inadequacy of the predominant theoretical framework—the New Neoclassical …

Reserve requirements are a prominent policy instrument in many emerging countries. The
present study investigates the circumstances under which reserve requirements are an …

This paper introduces a regime-switching forward-looking Taylor rule to describe the
monetary policy behavior and considers its estimation using a two-step MLE procedure due …