Poole, William (contributor); Rasche, Robert H. (contributor) - 2008
stability should be the primary goal of monetary policy and
favored gradual adjustment of monetary growth to a rate consistent ….
Keywords: Great Inflation, Shadow Open Market Committee, monetary policy, policy
rules
JEL code numbers: B22, E31, E52, E58 … macroeconomic model embedding the SOMC policy rule to gauge how
In this paper, we describe the monetary policy framework of the …