order to stabilize the real economy. A modified Taylor curve, the forecast Taylor curve, showing the tradeoff between the … achieved an efficient stabilization of both inflation and the real economy and what relative weight on the stability of … inflation and the real economy has effectively been applied. Ex ante evaluation may be more relevant than evaluation ex post …

include among the predetermined variables (the "state" of the economy) the vector of nonzero means of future shocks to a given …

economy. We compare the properties and outcomes of explicit "instrument rules" as well as "targeting rules". The latter, which …