In this paper, we examine the inflation persistence puzzle by applying the robust control
approach of Hansen and Sargent (2008). In line with the literature suggesting that inflation …

We study for a benchmark small open emerging economy an optimal robust monetary policy
à la Hansen and Sargent (2003) considering additive model uncertainty. The robust control …

Recent research has renewed interest in the exploration of the optimal design of monetary
policy institutions in the presence of uncertainty. In this paper, we revisit the rationale for …

Using a New-Keynesian model subject to misspecifications, we examine how the robust
monetary policy could be modified by a linear inflation contract when a central bank is …

We study in a New Keynesian framework the consequences of adaptive learning for the
design of robust monetary policy. Compared to rational expectations, the fact that private …

Most central banks have increased their transparency in the recent past. The question is
whether higher transparency comes at some cost. Firstly, the article shows in a theoretical …

Abstract In a New Keynesian model, we consider the delegation problem of the government
when the central bank optimally sets discretionary monetary policy taking account of private …

We study the role of transparency in an environment of robust monetary policy under wage
bargaining. The standard view from the game-theoretical literature is that, with unionised …

ABSTRACT Using a New Keynesian framework, this paper shows that, under optimal
discretion and optimal pre‐commitment in a timeless perspective, imperfect transparency …

This paper studies the implications of information disclosure about the central bank's
preferences regarding inflation and output‐gap stabilization in the presence of the cost …