STOP-GO MONETARY POLICY
We propose and estimate several discrete choice models of monetary policy decision-making that feature time-varying inertia. The models permit us to account for three stylized facts characterizing monetary policymaking in the United States: (1) target interest rates are gradually adjusted in small d...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Blackwell Publishing Inc.
2019
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| Online Access: | View Fulltext in Publisher |