Replication data for: Optimal Monetary Policy Rules in an Estimated Sticky-Information Model

Principal Investigator(s):  View help for Principal Investigator(s) Ricardo Reis

Version:  View help for Version V1

Name File Type Size Last Modified
  AEJ_final 10/12/2019 07:09:PM
LICENSE.txt text/plain 14.6 KB 10/12/2019 03:09:PM
SIBE.zip application/zip 27.9 KB 10/12/2019 03:09:PM
SIGE.zip application/zip 12.7 KB 10/12/2019 03:09:PM
SIPR.zip application/zip 47.7 KB 10/12/2019 03:09:PM

Project Citation: 

Reis, Ricardo. Replication data for: Optimal Monetary Policy Rules in an Estimated Sticky-Information Model. Nashville, TN: American Economic Association [publisher], 2009. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114044V1

Project Description

Summary:  View help for Summary This paper uses a dynamic stochastic general equilibrium (DSGE) model with sticky information as a laboratory to study monetary policy. It characterizes the model's predictions for macro dynamics and optimal policy at prior parameters, and then uses data on five US macroeconomic series to update the parameters and provide an estimated model that can be used for policy analysis. The model answers a few policy questions. How does sticky information affect optimal monetary policy? What is the optimal interest rate rule? What is the optimal elastic price-level targeting rule? How does parameter uncertainty affect optimal policy? Are the conclusions for the Euro area different? (JEL E13, E31, E43, E52)

Scope of Project

JEL Classification:  View help for JEL Classification
      E13 General Aggregative Models: Neoclassical
      E31 Price Level; Inflation; Deflation
      E43 Interest Rates: Determination, Term Structure, and Effects
      E52 Monetary Policy


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