JENSEN, CHRISTIAN; MCCALLUM, BENNETT T. - In: Journal of Money, Credit and Banking 42 (2010) 6, pp. 1093-1107
The timeless-perspective approach suggests that policymakers implement in each period policy actions conforming to a rule that would have been fully optimal to adopt in the distant past. A motivating advantage is that policy henceforth would continue by recommending the same optimality...