Learning, uncertainty and central bank activism in an economy with strategic interactions

Article Abstract:

A study is conducted into the optimal level of central bank activism in a standard model of monetary policy with interactions of learning, strategy and uncertainty. It is seen that an activist policy developed to reduce future uncertainty and encourage learning generates a volatile situation for expectations of inflation.

Models, Practice, Inflation (Finance), Central banks, Inflation (Economics)

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Sticky prices and volatile output

Article Abstract:

Research is presented describing the dramatic impact of introducing sticky prices on the business cycles of firms and the lack of stability such prices create.

Research, Prices, Business cycles

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The learning cost of interest rate reversals

Article Abstract:

The need for an optimal monetary policy that reduces learning difficulties associated with interest rate reversals is discussed.

United Kingdom, Forecasts, trends, outlooks, Interest Rates, Interpretation and construction, Forecasts and trends, Market trend/market analysis

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