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Bank of Canada RSS Feedsen2024-03-29T13:04:29+00:00Computing Optimal Policy in a Timeless-Perspective: An Application to a Small-Open Economy
https://www.bankofcanada.ca/2007/05/working-paper-2007-32/
Since the contribution of Kydland and Prescott (1977), it is well known that the optimal Ramsey policy is time inconsistent. In a series of recent contributions, Woodford (2003) proposes a new methodology to circumvent this problem, namely the timeless perspective solution.2007-05-02T17:15:54+00:00enComputing Optimal Policy in a Timeless-Perspective: An Application to a Small-Open Economy2007-05-02Monetary policy frameworkWorking Paper 2007-32 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp07-32.pdfComputing Optimal Policy in a Timeless-Perspective: An Application to a Small-Open EconomyMichel JuillardFlorian PelgrinMay 2007CC6EE5E6