Speed Limit Policies and Interest Rate Smoothing

Walsh (2003) argued that U.S. monetary policy can be described as following a "speed limit" policy. Here I show that this provides an explanation for the apparent interest rate smoothing present in central bank policy.

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Year of publication:	2004-10-28
Authors:	Yetman, James
Published in:	Economics Bulletin. - AccessEcon, ISSN 1545-2921. - Vol. 5.2004, 17, p. 1-6
Publisher:	AccessEcon
Subject:	Interest Rate Smoothing

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Extent:	application/pdf
Type of publication:	Article
Classification:	E5 - Monetary Policy, Central Banking and the Supply of Money and Credit
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010836045