Liu, Zheng; Waggoner, Daniel F.; Zha, Tao - Federal Reserve Bank of Atlanta - 2007
The possibility of regime shifts in monetary policy can have important effects on rational agents' expectation … the volatilities of inflation and output as the monetary policy switches from the dovish regime to the hawkish one. … content to Zheng Liu, Department of Economics, Emory University, 327 Rich Building,
Atlanta, GA 30322, 404-727-1128, 404 …