How forward-looking is the Fed? Direct estimates from a ‘Calvo-type’ rule

How Forward-Looking is Optimal Monetary Policy?

We calculate optimal monetary policy rules for several variants of a simple optimizing model of the monetary transmission mechanism with sticky prices and/or wages. We show that robustly optimal rules can be represented by interest-rate feedback rules that generalize the celebrated proposal of Taylor (1993). Optimal rules, however, require that the current interest-rate operating target depend ...

Forward Looking Estimates of Interest Rate Distributions ∗

This paper reviews methods for extracting both risk-neutral and physical density forecasts for interest rates. It presents some applications, with particular focus on issues pertaining to forward guidance and the zero lower bound. Several important applied questions in macroeconomics and monetary economics can be very directly addressed using the wealth of information in interest rate derivativ...

The IS History Initiative: Looking Forward by Looking Back

the present study is a survey os postmodern historical novel with respect to the voice of women. it argues how the recorded history is regulated by the rules of power and how women have been excluded from this discourse.ther study analysez angela carters nights at the circus as an example of postmodern historical novel to illustrate how this novel has questioned the historical narrative and how it has inserted women into history by breaking the rules of patriarchy.

the present thesis is a study of postmodern historical novel with respect to the voice of women. according to postmodern historiography,the established institution of history is one of the other manifestations of patriarchys power which has silenced women. the study analyzes angela carters nights at the circus as a postmodern historical novel which makes its female characters transgress the pat...

Looking back, looking forward.

Developing intergenerational connections in Manchester Looking back Looking forward 0 Although we may not use the term, all of us enter into intergenerational relationships. As parents, grandparents, children, politicians even, our lives revolve around mutual support and care. The sharing of knowledge and expertise between the generations is the hallmark of healthy, sustainable communities, cre...