Monetary policy, parameter uncertainty and optimal learning

An Introduction to Bayesian Inference in Econometrics.

1974 • 2,058 citations

Uncertainty and the effectiveness of policy

1967 • 1,049 citations

Central Banking in Theory and Practice

1998 • 1,008 citations

Discounted Dynamic Programming

1965 • 963 citations

Convergence of least squares learning mechanisms in self-referential linear stochastic models

1989 • 883 citations

How the Bundesbank Conducts Monetary Policy

1996 • 476 citations

Is the Price Level Tied to the M2 Monetary Aggregate in the Long Run

2007 • 375 citations

How Precise Are Estimates of the Natural Rate of Unemployment

1996 • 290 citations

Controlling a Stochastic Process with Unknown Parameters

1988 • 288 citations

The Multi-Period Control Problem Under Uncertainty

1972 • 176 citations

Learning by doing and the value of optimal experimentation

2000 • 146 citations

Optimal monetary policy with uncertainty

1979 • 117 citations

An actively adaptive control for linear systems with random parameters via the dual control approach

1972 • 110 citations

Adaptive stochastic control for a class of linear systems

1972 • 104 citations

P-Star as a link between money and prices in Germany

1994 • 94 citations

Modeling the Demand for M3 in the Unified Germany

1998 • 90 citations

Optimal Control of an Unknown Linear Process with Learning

1989 • 89 citations

Learning, experimentation, and monetary policy

1993 • 65 citations

Some Experimental Results on the Statistical Properties of Least Squares Estimates in Control Problems

1976 • 63 citations

The stability of German money demand: Tests of the cointegration relation

1995 • 61 citations

Monetary Targeting in Germany

1997 • 60 citations

Monetary Policy as a Process of Search

1996 • 58 citations

Inflation Variability and Gradualist Monetary Policy

1994 • 57 citations

Projecting policy effects with statistical models

1988 • 48 citations

Asymptotic Properties of Multiperiod Control Rules in the Linear Regression Model

1974 • 45 citations

Caution and probing in a macroeconomic model

1982 • 40 citations

Nonconvexities in Stochastic Control Models

1995 • 35 citations

Monetary union, money demand, and money supply

1993 • 33 citations

German Monetary Targeting: A Retrospective View

1995 • 26 citations

The stability of German money demand: Not just a myth

1999 • 24 citations

Nonconvexities in a stochastic control problem with learning

1991 • 22 citations

Credibility and the value of information transmission in a model of monetary policy and inflation

1990 • 19 citations

A maximum probability approach to short-run policy

1981 • 13 citations

German Unification and the Demand for German M3

1994 • 10 citations

The stability of german money demand: Not just a myth

1998 • 10 citations

Geldmenge und Preise im vereinigten Deutschland

2021 • 5 citations

Are Policy Variables Exogenous?: The Econometric Implications of Learning while Maximizing

1991 • 2 citations

Econometric Implications

1991 • 2 citations