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Uncertainty and the vigour of policy Some implications of quadratic preferences

โœ Scribed by Matti T. Pohjola


Publisher
Elsevier Science
Year
1981
Tongue
English
Weight
399 KB
Volume
3
Category
Article
ISSN
0165-1889

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The policy preferences of the US Federal
โœ Richard Dennis ๐Ÿ“‚ Article ๐Ÿ“… 2006 ๐Ÿ› John Wiley and Sons ๐ŸŒ English โš– 221 KB

## 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