Hur, Joonyoung; Oh, Hyoung Seok - In: KDI Journal of Economic Policy 46 (2024) 1, pp. 91-129
stability. Using VAR models, the study reveals a clear increase in risk appetite following interest rate cuts after the … estimation of a high interest rate smoothing coefficient suggests a cautious approach to interest rate adjustments. Furthermore …, estimating the optimal interest rate rule to minimize the central bank's loss function reveals that a policy considering …