What Is Wrong with Taylor Rules? Using Judgment in Monetary Policy through Targeting Rules
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منابع مشابه
Targeting versus Instrument Rules for Monetary Policy: What is Wrong with McCallum and Nelson?
In their struggle against targeting rules, however, McCallum and Nelson seem to face an uphill battle. There is now a rapidly growing literature by many authors that successfully applies targeting rules to monetary policy analysis. This literature includes recent contributions by Benigno and Benigno (2003), Benigno and Woodford (2004a,b), Cecchetti (1998, 2000), Cecchetti and Kim (2004), Evans ...
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[To be added.] for helpful discussions; Mehmet Passaogullari for research assistance; the NSF for research support through a grant to the NBER; and the Kumho Visiting Professorship, Yale University, for providing the time to write this paper.
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ژورنال
عنوان ژورنال: Journal of Economic Literature
سال: 2003
ISSN: 0022-0515
DOI: 10.1257/002205103765762734