The Present and Future of Monetary Policy Rules
نویسندگان
چکیده
منابع مشابه
Learning, monetary policy rules, and macroeconomic stability
Several papers have documented a regime switch in US monetary policy from ‘passive’ and destabilizing in the pre-1979 period to ‘active’ and stabilizing afterwards. These studies typically work with DSGE models with rational expectations. This paper relaxes the assumption of rational expectations and allows for learning instead. Economic agents form expectations from simple models and update th...
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ژورنال
عنوان ژورنال: International Finance
سال: 2000
ISSN: 1367-0271,1468-2362
DOI: 10.1111/1468-2362.00052