Söderström, Ulf; Söderlind, Paul; Vredin, Anders - Economics Institute for Research (SIR), … - 2002
parameterizations all imply a small concern for output stability but a large preference for interest rate smoothing, and a small degree … monetary policy analysis.
Keywords: Interest rate smoothing, central bank objectives, forward-looking
behavior.
JEL … has also been argued that there is little deliberate interest rate smoothing
in practice and that the empirical Taylor …