NAIRU uncertainty and nonlinear policy rules

Meyer (1999) has suggested that episodes of heightened uncertainty about the NAIRU may warrant a nonlinear policy response to changes in the unemployment rate. This paper offers a theoretical justification for such a nonlinear policy rule, and provides some empirical evidence on the relative performance of linear and nonlinear rules when there is heightened uncertainty about the NAIRU.

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Year of publication:	2001
Authors:	Meyer, Laurence H. ; Swanson, Eric T. ; Wieland, Volker W.
Institutions:	Federal Reserve Board (Board of Governors of the Federal Reserve System)
Subject:	Inflation (Finance) \| Unemployment

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Extent:	text/html application/pdf
Series:	Finance and Economics Discussion Series.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 2001-01
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005720987