Sarno, Lucio (contributor); Thornton, Daniel L. (contributor) - 2002 - [Elektronische Ressource]
empirical
evidence suggesting that the Fed’s policy is well described as a forward-looking interest rate rule.
2
The … inflation and output) that one may expect to drive monetary policy
decisions and interest rate movements since these variables … researchers have concluded
that the interest rate fails to follow a random walk (e.g. Shiller, Campbell and Schoenholtz, 1983 …