Robust Monetary Policy with Competing Reference Models

Discretion versus policy rules in practice

1993 • 9,049 citations

The Science of Monetary Policy: A New Keynesian Perspective

1999 • 5,015 citations

Uncertainty and the effectiveness of policy

1967 • 1,049 citations

Measuring the Natural Rate of Interest

2003 • 975 citations

The Unreliability of Output-Gap Estimates in Real Time

2002 • 873 citations

Inflation Persistence

1995 • 851 citations

An Optimization-Based Econometric Framework for the Evaluation of Monetary Policy

1997 • 697 citations

Robustness properties of a rule for monetary policy

1988 • 691 citations

The New Neoclassical Synthesis and the Role of Monetary Policy

1997 • 683 citations

Assessing Nominal Income Rules for Monetary Policy with Model and Data Uncertainty

2002 • 396 citations

A linear algebraic procedure for solving linear perfect foresight models

1985 • 376 citations

Changes in UK monetary policy: Rules and discretion in practice

1997 • 356 citations

Implementing Optimal Policy through Inflation-Forecast Targeting

2004 • 338 citations

What Should the Monetary Authority Do When Prices Are Sticky

1999 • 314 citations

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

2002 • 292 citations

Robust Monetary Policy Rules with Unknown Natural Rates

2002 • 230 citations

Should Monetary Policy Respond Strongly to Output Gaps?

2001 • 221 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

Simple Rules for Monetary Policy

1999 • 190 citations

STAGGERED WAGE SETTING WITH REAL WAGE RELATIVITIES: VARIATIONS ON A THEME OF TAYLOR*

1981 • 190 citations

Modeling Model Uncertainty

2003 • 188 citations

Price Stability and Monetary Policy Effectiveness when Nominal Interest Rates are Bounded at Zero

1998 • 182 citations

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

1998 • 160 citations

The Role of Expectations in the FRB/US Macroeconomic Model

1997 • 154 citations

Estimation and control of an optimization-based model with sticky prices and wages

2003 • 140 citations

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

2001 • 128 citations

Pitfalls of a Minimax Approach to Model Uncertainty

2001 • 127 citations

UK inflation in the 1970s and 1980s: the role of output gap mismeasurement

2003 • 106 citations

The Smoothing of Official Interest Rates

1997 • 105 citations

Limits on Interest Rate Rules in the IS Model

1996 • 80 citations

Towards a compact, empirically-verified rational expectations model for monetary policy analysis

1997 • 63 citations

Effect of Uncertainty on Optimal Control Policies

1973 • 60 citations

Monetary Policy as a Process of Search

1996 • 58 citations

The Simultaneous Use of Rival Models in Policy Optimisation

1986 • 48 citations

The Performance of Forecast-Based Monetary Policy Rules Under Model Uncertainty

2001 • 29 citations

Optimally derived fixed rules and indicators

1984 • 27 citations

International Macroeconomic Policy Coordination When Policymakers Do Not Agree on the True Model: Comment

1992 • 24 citations

Optimal Monetary Policy with Durable and Non-durable Goods

2003 • 13 citations

The design of economic policy under model uncertainty

1993 • 9 citations

NAIRU Uncertainty and Nonlinear Policy Rules

2001 • 8 citations