Monetary Policy Under Uncertainty

Workshop held at the Reserve Bank

Workshop held at the Reserve Bank of New Zealand, 29-30 June 1998

Contents page (PDF 16KB)
Introduction (PDF 20KB)
Comments on Monetary Policy Under Uncertainty
By John Taylor

Papers: all papers are PDF files

Output gap uncertainty: Does it matter for the Taylor rule? (PDF 1,104KB)
By Frank Smets
Comments by Luci Ellis, (PDF 182KB)

Monetary policy with NAIRU uncertainty and endogenous credibility: Perspectives on policy rules and the gains from experimentation and transparency, (PDF 640KB)
By Peter Isard and Douglas Laxton
Comments by Julian Wright, (PDF 31KB)

The effects of potential output uncertainty on the performance of simple policy rules, (PDF 248KB)
By Aaron Drew and Benjamin Hunt
Comments by Ralph C Bryant, (PDF 66KB)

Learning and the complexity of monetary policy rules, (PDF 1,547KB)
By Robert J Tetlow, Peter von zur Muehlen and Frederico S Finan
Comments by Scott Roger, (PDF 22KB)

Monetary rules when economic behaviour changes, (PDF 1,242KB)
By Robert Amano, Don Coletti and Tiff Macklem
Comments by Viv Hall, (PDF 20KB)

Transparency, uncertainty and monetary policy, (PDF 152KB)
By Hans Dillen and Jonny Nilsson
Comments by Andreas Fischer, (PDF 26KB)

Should uncertain monetary policymakers do less? (PDF 425KB)
By Chris Salmon and Ben Martin
Comments by Hans Dillen, (PDF 43KB)

The implications of uncertainty for monetary policy, (PDF 1,246KB)
By Geoffrey Shuetrim and Christopher Thompson
Comments by Arthur Grimes, (PDF 19KB)