Taylor rules, omitted variables, and interest rate smoothing in the US

We test for the presence of interest rate smoothing in forward looking Taylor rules in first differences. We also consider financial and asymmetric preferences indicators. We find that interest rate smoothing is not induced by an omitted variable bias.

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Year of publication:	2004-03-17
Authors:	Castelnuovo, Efrem
Institutions:	EconWPA
Subject:	Taylor rules \| Interest rate smoothing \| Serial correlation \| Observational equivalence \| Omitted variables

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Extent:	application/pdf
Series:	Macroeconomics.
Type of publication:	Book / Working Paper
Notes:	Type of Document - pdf; pages: 5 5 pages
Classification:	E4 - Money and Interest Rates ; E5 - Monetary Policy, Central Banking and the Supply of Money and Credit
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005126414