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~institution:"Department of Economics, Oxford University"
~institution:"Federal Reserve Board (Board of Governors of the Federal Reserve System)"
~institution:"Society for Computational Economics - SCE"
~subject:"Monetary policy"
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A defence of the FOMC
Ellison, Martin
;
Sargent, Thomas J.
-
Department of Economics, Oxford University
-
2009
We defend the
forecasting
performance of the FOMC from the recent criticism of Christina and David Romer. Our argument …
Persistent link: https://www.econbiz.de/10008506720
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2
On signal extraction and non-certainty-equivalence in optimal monetary policy rules
Swanson, Eric T.
-
Federal Reserve Board (Board of Governors of the …
-
2000
A standard result in the literature on monetary policy rules is that of certainty equivalence: given the expected values of all the state variables of the economy, policy should be set in a way that is independent of all higher moments of those variables. Some exceptions to this rule have been...
Persistent link: https://www.econbiz.de/10005393817
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3
Price level determinacy and monetary policy under a balanced-budget requirement
Schmitt-Grohe, Stephanie
;
Uribe, Martin
-
Federal Reserve Board (Board of Governors of the …
-
1997
This paper analyzes the implications of a balanced budget fiscal policy rule for the determinacy of the price level in a cash-in-advance economy under three alternative monetary policy regimes. It shows that, in such stylized models with flexible prices and a period-by-period balanced budget...
Persistent link: https://www.econbiz.de/10005721165
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