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Trust in the Monetary Authority
(2013-07-01)
Trust in policy makers fluctuates significantly over the cycle and affects the transmission mechanism. Despite this it is absent from the literature. We build a monetary model embedding trust cycles; the latter emerge as ...
Optimal Policy and Taylor Rule Cross-Checking Under Parameter Uncertainty
(2013-09-26)
We examine whether the robustifying nature of Taylor rule cross-checking under model uncertainty carries over to the case of parameter uncertainty. Adjusting monetary policy based on this kind of cross-checking can improve ...