Optimal Monetary Policy under Uncertainty in DSGE Models: A Markov Jump-Linear-Quadratic Approach
---- Acknowledgements ----
The authors thank James Bullard, Timothy Cogley, and Andrew Levin for comments on an earlier paper of ours which helped inspire this paper, and Carl Walsh for comments on this paper. The views expressed in this paper are solely the responsibility of the authors and should not to be interpreted as reflecting the views of any other member of the Executive Board of Sveriges Riksbank. Financial support from the Central Bank of Chile and the National Science Foundation is gratefully acknowledged. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.