The Greenbook and U.S. Monetary Policy

The Greenbook and U.S. Monetary Policy
Although very attractive both theoretically and empirically, Taylor rules imply mechanical responses by the policy variable (interest rate) to fundamental ones (inflation and output gap). This study looks for empirical evidence of a more sophisticated monetary policy, one which takes into account expected future developments. An important piece... READ MORE...

Publication date: November 2004
ISBN 9781451874976
$15.00

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