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Modelling Federal Reserve Discount Policy

โœ Scribed by Christopher F. Baum; Meral Karasulu


Book ID
110264249
Publisher
Springer US
Year
1997
Tongue
English
Weight
128 KB
Volume
11
Category
Article
ISSN
1572-9974

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## Abstract In this paper we model and explain US macroeconomic outcomes subject to the discipline that monetary policy is set optimally. Exploiting the restrictions that come from optimal policymaking, we estimate the parameters in the Federal Reserve's policy objective function together with the