Número:
814
Publicado:
Clasificación JEL:
D81, E52, E58
Palabras clave:
Prudence, Robustness, Measurement error, Optimal Monetary Policy
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Using a stylized model in which output is measured with error, we derive the optimal policy response to the demand shock signal and to changes in the measurement error volatility from two different perspectives: the minimization of the expected loss (from