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Unconditionally Optimal Monetary Policy


Tatiana Damjanovic


University of St. Andrews - School of Economics and Finance

Vladislav Damjanovic


University of Saint Andrews - School of Economics & Management

Charles Nolan


University of St. Andrews
October 2007

CDMA Working Paper No. 0721

Abstract:     
We develop a simple and intuitive approach for analytically deriving unconditionally optimal (UO) policies, a topic of enduring interest in optimal monetary policy analysis. The approach can be employed to both general linear-quadratic problems and to the underlying non-linear environments. We provide a detailed example using a canonical New Keynesian framework.

Number of Pages in PDF File: 20

Keywords: Unconditional expectations, optimal monetary policy

JEL Classification: E20, E32, F32, F41

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Date posted: November 20, 2007  

Suggested Citation

Damjanovic, Tatiana, Damjanovic, Vladislav and Nolan, Charles, Unconditionally Optimal Monetary Policy (October 2007). CDMA Working Paper No. 0721. Available at SSRN: http://ssrn.com/abstract=1031352 or http://dx.doi.org/10.2139/ssrn.1031352

Contact Information

Tatiana Damjanovic (Contact Author)
University of St. Andrews - School of Economics and Finance ( email )
The Scores, Castlecliff
St. Andrews, Fife KY16 9AL
United Kingdom
HOME PAGE: http://www.st-andrews.ac.uk/economics/staff/pages.t.damjanovic.shtml
Vladislav Damjanovic
University of Saint Andrews - School of Economics & Management ( email )
Gateway
St. Andrews, Fife KY16 9SS
United Kingdom
Charles Nolan
University of St. Andrews ( email )
College Gate
The Observatory Buchanan Gardens
Saint Andrews, Fife KY16 9SS
United Kingdom
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