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Interest rate decisions by central banks are universally discussed in terms of Taylor rules, which describe policy rates as responding to inflation and some measure of the output gap. We show that an alternative specification of the monetary policy r
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::24ec184c6d985f195a79cef5b65476cf
http://www.frbsf.org/economic-research/files/wp2014-12.pdf
http://www.frbsf.org/economic-research/files/wp2014-12.pdf
Publikováno v:
SSRN Electronic Journal.
The empirical DSGE (dynamic stochastic general equilibrium) literature pays surprisingly little attention to the behavior of the monetary authority. Alternative policy rule specifications abound, but their relative merit is rarely discussed. We contr
Autor:
Denes, Matthew, Greenwald, Daniel, Klagge, Nicholas, Ging Cee Ng, Shrader, Jeffrey, Sockin, Michael, Sporn, John
Publikováno v:
Economic Policy Review (19320426); Aug2010, Vol. 16 Issue 1, p9-26, 18p