Robust monetary policy with misspecified models: Does model uncertainty always call for attenuated policy?

Discretion versus policy rules in practice

1993 • 9,049 citations

State-space solutions to standard H/sub 2/ and H/sub infinity / control problems

1989 • 5,529 citations

Robust and optimal control

1997 • 5,507 citations

Staggered Prices in a Utility-Maximizing Framework

1996 • 4,849 citations

Robust and Optimal Control

1997 • 4,474 citations

Robust and optimal control

2002 • 3,875 citations

Aggregate Dynamics and Staggered Contracts

1980 • 2,566 citations

Feedback and optimal sensitivity: Model reference transformations, multiplicative seminorms, and approximate inverses

1981 • 2,339 citations

Monetary Policy Rules

1999 • 1,724 citations

State-space solutions to standard H2 and Hoo control problems

1989 • 1,714 citations

Political Economy in Macroeconomics

2000 • 1,645 citations

State-space formulae for all stabilizing controllers that satisfy an H∞-norm bound and relations to relations to risk sensitivity

1988 • 1,404 citations

Uncertainty and the effectiveness of policy

1967 • 1,049 citations

Central Banking in Theory and Practice

1998 • 1,008 citations

H∞-Optimal Control and Related Minimax Design Problems

2008 • 923 citations

Policy rules for inflation targeting

1998 • 903 citations

Inflation Persistence

1995 • 851 citations

Analysis and control of dynamic economic systems

1975 • 848 citations

Central Banking in Theory and Practice

1999 • 765 citations

Optimal monetary policy inertia

1999 • 755 citations

Risk-sensitive optimal control

1990 • 672 citations

Policy Rules for Open Economies

1998 • 671 citations

Optimization of stochastic systems

1986 • 592 citations

From ‘Some Theoretical Problems Suggested by the Movements of Interest Rates, Bond Yield, and Stock Prices in the United States Since 1856’

2017 • 551 citations

Control of Uncertain Systems: A Linear Programming Approach

1995 • 508 citations

Robust Permanent Income and Pricing

1999 • 507 citations

Interest rates and the conduct of monetary policy

1991 • 448 citations

Control of uncertain systems: A linear programming approach

1996 • 404 citations

A linear algebraic procedure for solving linear perfect foresight models

1985 • 376 citations

Political Economy in Macroeconomics

2001 • 372 citations

Robustness of Simple Monetary Policy Rules under Model Uncertainty

1998 • 364 citations

Monetary policy trade-offs and the correlation between nominal interest rates and real output

1995 • 348 citations

Discounted linear exponential quadratic Gaussian control

1995 • 312 citations

DOES MODEL UNCERTAINTY JUSTIFY CAUTION? ROBUST OPTIMAL MONETARY POLICY IN A FORWARD-LOOKING MODEL

2002 • 292 citations

Controlling a Stochastic Process with Unknown Parameters

1988 • 288 citations

Errors in the measurement of the output gap and the design of monetary policy

2000 • 246 citations

Optimal Monetary Policy Inertia

1999 • 220 citations

ROBUST MONETARY POLICY UNDER MODEL UNCERTAINTY IN A SMALL MODEL OF THE U.S. ECONOMY

2002 • 209 citations

Mathematical Statistics

1967 • 206 citations

Does the Fed Act Gradually? A VAR Analysis

1998 • 184 citations

Does the fed act gradually? A VAR analysis

2000 • 163 citations

Monetary Policy Rules Based on Real-Time Data

1998 • 161 citations

Output Gap Uncertainty: Does it Matter for the Taylor Rule?

1998 • 160 citations

Lectures on Macroeconomic Planning.

1980 • 125 citations

Optimal monetary policy with uncertainty

1979 • 117 citations

Rethinking the role of NAIRU in monetary policy: implications of model formulation and uncertainty

1998 • 115 citations

Monetary Policy and Uncertainty about the Natural Unemployment Rate

1998 • 104 citations

Uncertainty, Learning, and Gradual Monetary Policy

1998 • 85 citations

Robust Monetary Policy Under Model Uncertainty in a Small Model of the U.S. Economy

2000 • 62 citations

Interest-Rate Smoothing and Optimal Monetary Policy: A Review of Recent Empirical Evidence

1999 • 58 citations

Uncertainty, Learning, and Gradual Monetary Policy

1998 • 56 citations

Simplicity versus optimality: The choice of monetary policy rules when agents must learn

2001 • 47 citations

Monetary Policy and Uncertainty about the Natural Unemployment Rate

2003 • 45 citations

Monetary Policy with Uncertain Parameters

2000 • 42 citations

Is the Fed too timid? Monetary policy in an uncertain world

1999 • 39 citations

MODEL UNCERTAINTY, ROBUST POLICIES, AND THE VALUE OF COMMITMENT

2002 • 28 citations

Should central banks be more aggressive

1999 • 25 citations

Simplicity Versus Optimality: The Choice of Monetary Policy Rules when Agents Must Learn

1999 • 22 citations

Caution in macroeconomic policy: uncertainty and the relative intensity of policy

2000 • 19 citations

On H∞ criteria for macroeconomic policy evaluation

1995 • 19 citations

Minimax Control of Discrete Time Stochastic Systems

1964 • 17 citations

Activist vs. Non-Activist Monetary Policy: Optimal Rules Under Extreme Uncertainty

2001 • 17 citations

Monetary policy with uncertain parameters

1999 • 14 citations

A constrained min-max algorithm for rival models

1988 • 8 citations

A class of risk-sensitive noncooperative games

1990 • 7 citations