Kozicki, Sharon; Tinsley, P.A. - In: Journal of Monetary Economics 56 (2009) 6, pp. 842-855
Briefing forecasts prepared for the Federal Open Market Committee (FOMC) are used to estimate changes in the design of US monetary policy and in the implied policy target for inflation from 1970 through 1997. Both estimated policy rate responses and FOMC transcripts are consistent with...
