Monetary Policy under Uncertainty

Martín Redrado

in The Oxford Handbook of Latin American Political Economy

Published in print May 2012 | ISBN: 9780199747504
Published online November 2012 | | DOI:

Series: Oxford Handbooks

Monetary Policy under Uncertainty

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  • Economics
  • Macroeconomics and Monetary Economics
  • Public Economics



This article describes how the presence of uncertainty limits the effectiveness of monetary policy and, as a result, its implementation. The article is organized as follows. Section 2 reviews the recent contributions to the literature so as to identify the influence of uncertainty on monetary policy. Section 3 analyzes how uncertainty affects policymaking, particularly in emerging economies, while Section 4 examines the implications of uncertainty for monetary policymaking.

Keywords: uncertainty; monetary policies; policymaking; emerging economy; emerging market

Article.  5265 words. 

Subjects: Economics ; Macroeconomics and Monetary Economics ; Public Economics

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