Financial stability under model uncertainty

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dc.citation.epage68en_US
dc.citation.spage65en_US
dc.citation.volumeNumber173en_US
dc.contributor.authorKantur, Z.en_US
dc.contributor.authorÖzcan, G.en_US
dc.date.accessioned2019-02-21T16:01:32Z
dc.date.available2019-02-21T16:01:32Z
dc.date.issued2018en_US
dc.departmentDepartment of Economicsen_US
dc.description.abstractThis paper studies how asset price model misspecification affects the conduct of monetary policy under commitment in a New Keynesian model using robust control techniques. We find that monetary policy reacts aggressively to both asset price and inflation shocks to guard herself against worst-case outcome.
dc.description.provenanceMade available in DSpace on 2019-02-21T16:01:32Z (GMT). No. of bitstreams: 1 Bilkent-research-paper.pdf: 222869 bytes, checksum: 842af2b9bd649e7f548593affdbafbb3 (MD5) Previous issue date: 2018en
dc.embargo.release2020-12-01en_US
dc.identifier.doi10.1016/j.econlet.2018.09.019
dc.identifier.eissn1873-7374en_US
dc.identifier.issn0165-1765
dc.identifier.urihttp://hdl.handle.net/11693/49866
dc.language.isoEnglish
dc.publisherElsevier B.V.
dc.relation.isversionofhttps://doi.org/10.1016/j.econlet.2018.09.019
dc.source.titleEconomics Lettersen_US
dc.subjectAsset priceen_US
dc.subjectModel uncertaintyen_US
dc.subjectOptimal monetary policyen_US
dc.subjectRobust controlen_US
dc.titleFinancial stability under model uncertaintyen_US
dc.typeArticleen_US

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