β Scribed by Mullins, Eustace
No coin nor oath required. For personal study only.
π SIMILAR VOLUMES
## Abstract We use Bayesian methods to estimate changes in US postβwar monetary policy in the Smets and Wouters model. We perform the estimations by allowing for a break in monetary policy at the time of Volcker's appointment as chairman. This enables us to capture changes in the monetary policy re
## 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
## Abstract The Federal Reserve Greenbook forecasts of real GDP, inflation and unemployment are analysed for the period 1974β1997. We consider whether these forecasts exhibit systematic bias, and whether efficient use is made of information, that is, whether revisions to these forecasts over time a