Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/60932
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dc.contributor.authorCúrdia, Vascoen_US
dc.contributor.authorFerrero, Andreaen_US
dc.contributor.authorCee Ng, Gingen_US
dc.contributor.authorTambalotti, Andreaen_US
dc.date.accessioned2011-08-29en_US
dc.date.accessioned2012-08-17T14:37:45Z-
dc.date.available2012-08-17T14:37:45Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/60932-
dc.description.abstractThe empirical DSGE (dynamic stochastic general equilibrium) literature pays surprisingly little attention to the behavior of the monetary authority. Alternative policy rule specifications abound, but their relative merit is rarely discussed. We contribute to filling this gap by comparing the fit of a large set of interest rate rules (fifty-five in total), which we estimate within a simple New Keynesian model. We find that specifications in which monetary policy responds to inflation and to deviations of output from its efficient levelen_US
dc.language.isoengen_US
dc.publisher|aFederal Reserve Bank of New York |cNew York, NYen_US
dc.relation.ispartofseries|aStaff Report, Federal Reserve Bank of New York |x510en_US
dc.subject.jelE48en_US
dc.subject.jelE58en_US
dc.subject.jelC11en_US
dc.subject.ddc330en_US
dc.subject.keywordthe one that would prevail in the absence of distortionsen_US
dc.titleEvaluating interest rate rules in an estimated DSGE modelen_US
dc.typeWorking Paperen_US
dc.identifier.ppn667316264en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US

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