Optimal Policy under Uncertainty
Optimal Policy Implications of Financial Uncertainty
... alternative policy tools have emerged dur- ing this period to analyze the impact of financial shocks, and their linkages with the real ...to uncertainty. This paper proposes robust optimal ...
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Optimal Policy Under Model Uncertainty: A Structural-Bayesian Estimation Approach
... Analyzing optimal policy under model uncertainty In this section we describe the general framework and our novel methodology to analyze the opti- mal conduct of policy if the decision ...
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Farmland Preservation and Differential Taxation: Evaluating Optimal Policy Under Conditions of Uncertainty
... factors, optimal policy depends on the balance between un- certain elements underlying development ...addressing optimal policy under conditions which more closely simulate situations ...
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Optimal policy and Taylor rule cross-checking under parameter uncertainty : [Version 26 September 2013]
... vector in order to assess the usefulness of Taylor rule cross-checking and to make normative statements for policy making institutions. In reality, a mon- etary authority will not be able to estimate the ...
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Environmental Policy Under Model Uncertainty: A Robust Optimal Control Approach
... of uncertainty, namely how optimal policy decisions depend upon uncertainty about the “true” ...the uncertainty literature by studying how environmental policymakers' concerns about ...
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Optimal Cash Management Under Uncertainty
... the optimal policy is similar to that in deterministic case, the difference being that now the expected value of investing one dollar in stock must be ...
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Monetary policy, parameter uncertainty and optimal learning
... a policy-induced inflation bias that is greater than 1 percentage point and lasts for more than 30 periods (the same measure as in Table 4) as a function of b 1 , v 1 , D, F 2 , T and $ 1 ...outcomes under ...
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Optimal Policies for Managing Invasive Species under Uncertainty
... Optimal policy recommendations in managing inva- sive species have been based on sub-structured models; either stage 2 only [6], or both stages 1 and 2 [1,2,7,8], or both stages 2 and 3 ...When ...
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Optimal discretionary policy and uncertainty about inflation persistence
... of uncertainty, it is optimal for policy to re- spond more aggressively than in the case of certainty to both cost-push and real interest rate ...not optimal to perfectly offset them in the ...
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Monetary Policy under Balance Sheet Uncertainty
... for optimal policy analysis in small, financially dollarised ...model uncertainty through the presence of two rival models that deliver opposite effects from unexpected exchange rate ...the ...
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Irreversibilities and the Optimal Timing of Environmental Policy under Knightian Uncertainty
... is, uncertainty, irreversibility, and the flexibility in deciding the timing of adopting envi- ronmental ...economic uncertainty over future costs and benefits of adopting environmental policies and eco- ...
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Optimal Investment Strategies under Demand and Tax Policy Uncertainty
... Hjalmar Böhm Hamburg University Department of Economics Von-Melle-Park 5 20146 Hamburg Germany email: [email protected] Michael Funke Hamburg University Department of Eco[r] ...
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Fiscal Policy Under Uncertainty
... as optimal responses to shocks, and, so-called, New 1 In this paper the fiscal impact multiplier is defined as the change in the output gap over a period ...
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Optimal Degree of Foreign Ownership under Uncertainty
... There are three empirical regularities that emerge from the Turkish data. First, the majority of multinationals operate in a partially integrated setting with a domestic partner regardless of industry characteristics, ...
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Optimal Intermediation Under Aggregate Consumption Uncertainty
... Although the paper focuses on the welfare analysis of financial inter- mediaries with different capital structure, the results can also be extended to welfare comparison between alternative channels of liquidity ...
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Optimal Investment in Energy Efficiency under Uncertainty
... Improvements in energy e¢ ciency (EE) have put a limit to fuel consumption growth in the past (Geller et al. 2006, UNF 2007). Besides they have another basic impact, namely the avoiding of greenhouse gas (GHG) emissions ...
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Investment under uncertainty and policy change
... a policy change on the investment behavior of the firm is studied in an asymmetric information ...The policy change occurs when a stochastic process describing the state of the economic environment reaches ...
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Optimal Mix of Price and Quantity Regulation under Uncertainty
... It is well known that, when marginal abatement costs (MAC) and marginal abatement benefits (MAB) are known with certainty, an optimal emissions tax is equivalent to an optimal cap- and-trade system, both of ...
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The perception of distributive fairness and optimal taxation under uncertainty
... socially optimal self-insurance (degree of individual risk taking) to increase ...socially optimal redis- tributive tax policy it can be clearly shown that the social planner chooses full ...
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Policy Uncertainty, Symbiosis, and the Optimal Fiscal and Monetary Conservativeness
... multiplicative uncertainty on the stabilization policy under the symbiosis ...that uncertainty may be no longer neutral (for average outcomes) and may imply different ...
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