Monetary policy as a source of uncertainty

André P. Calmon (1) , Thomas Vallée (2) , João B. R. Do Val (1)

1 FAPESP - Department of Telematics of the School of Electrical and Computer Engineering
2 LEMNA - Laboratoire d'économie et de management de Nantes Atlantique

This paper proposes a model in which control variations induce an increase in the uncertainty of the system. The aim of our paper is to provide a stochastic theoretical model that can be used to explain under which uncertainty conditions monetary policy rules should be less or more aggressive, or, simply, applied or not.

Domaines: Economies et finances; Gestion et management

André P. Calmon, Thomas Vallée, João B. R. Do Val. Monetary policy as a source of uncertainty. 2009. ⟨hal-00422454⟩