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Treasury Bond Volatility and Uncertainty about Monetary Policy
macroeconomic factors monetary policy survey data
2011/8/21
We show that dispersion-based uncertainty about the future course of monetary policy is the single most important determinant of Treasury bond volatility across all maturities. The link between Treasu...
ROBUST MONETARY POLICY UNDER UNCERTAINTY ABOUT CENTRAL BANK PREFERENCES
central bank opacity min杕ax policies model uncertainty robust control
2011/8/21
In this paper, we study the impact of central bank opacity on macroeconomic performances in a new Keynesian framework with model uncertainty using robust control techniques. We identify a new source o...