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Monetary commitment, institutional constraints and inflation : empirical evidence for OECD countries since the 1970s

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Rules versus discretion at the Federal Reserve System : on to the second century

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Remarks on monetary rules for a post-crisis world

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Central bank objectives, monetary policy rules, and limited information

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Speed limit policies : the output gap and optimal monetary policy

Walsh, Carl E. - 2001

In a standard New Keynesian model, a myopic central bank concerned with stabilizing inflation and changes in the output gap will implement a policy under discretion that replicates the optimal, timeless perspective, precommitment policy. By stabilizing output gap changes, the central bank...

Persistent link: https://www.econbiz.de/10011408406