Levin, Andrew T.; López-Salido, José David; Nelson, Edward - 2008
Macroeconometric Equivalence, Microeconomic Dissonance,
and the Design of Monetary Policy
Andrew T. Levin
J. David López … Design of Monetary Policy
Andrew T. Levin
a
, J. David López-Salido
a
, Edward Nelson
b
, Tack Yun
a
September 2008 … differences become important when optimal monetary policy
is analyzed in a nonlinear setting. The relevance of these concepts is …