Nonlinear Monetary Policy Rules: Some New Evidence for the U.S
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| 024 | 7 | 0 | |a 10.2202/1558-3708.1155 |2 doi |
| 035 | |a (NATIONALLICENCE)gruyter-10.2202/1558-3708.1155 | ||
| 245 | 0 | 0 | |a Nonlinear Monetary Policy Rules: Some New Evidence for the U.S |h [Elektronische Daten] |c [Juan Dolado, Ramón María-Dolores Pedrero, Francisco J. Ruge-Murcia] |
| 520 | 3 | |a This paper derives optimal monetary policy rules in setups where certainty equivalence does not hold because either central bank preferences are not quadratic, and/or the aggregate supply relation is nonlinear. Analytical results show that these features lead to sign and size asymmetries, and nonlinearities in the policy rule. Reduced-form estimates indicate that US monetary policy can be characterized by a nonlinear policy rule after 1983, but not before 1979. This finding is consistent with the view that the Fed's inflation preferences during the Volcker-Greenspan regime differ considerably from the ones during the Burns-Miller regime. | |
| 540 | |a ©2011 Walter de Gruyter GmbH & Co. KG, Berlin/Boston | ||
| 700 | 1 | |a Dolado |D Juan |u Universidad Carlos III, dolado@eco.uc3m.es |4 aut | |
| 700 | 1 | |a Pedrero |D Ramón María-Dolores |u Universidad de Murcia, ramonmar@um.es |4 aut | |
| 700 | 1 | |a Ruge-Murcia |D Francisco J. |u University of Montreal, francisco.ruge-murcia@umontreal.ca |4 aut | |
| 773 | 0 | |t Studies in Nonlinear Dynamics & Econometrics |d De Gruyter |g 8/3(2004-09-16) |q 8:3 |1 2004 |2 8 |o snde | |
| 856 | 4 | 0 | |u https://doi.org/10.2202/1558-3708.1155 |q text/html |z Onlinezugriff via DOI |
| 908 | |D 1 |a research article |2 jats | ||
| 950 | |B NATIONALLICENCE |P 856 |E 40 |u https://doi.org/10.2202/1558-3708.1155 |q text/html |z Onlinezugriff via DOI | ||
| 950 | |B NATIONALLICENCE |P 700 |E 1- |a Dolado |D Juan |u Universidad Carlos III, dolado@eco.uc3m.es |4 aut | ||
| 950 | |B NATIONALLICENCE |P 700 |E 1- |a Pedrero |D Ramón María-Dolores |u Universidad de Murcia, ramonmar@um.es |4 aut | ||
| 950 | |B NATIONALLICENCE |P 700 |E 1- |a Ruge-Murcia |D Francisco J. |u University of Montreal, francisco.ruge-murcia@umontreal.ca |4 aut | ||
| 950 | |B NATIONALLICENCE |P 773 |E 0- |t Studies in Nonlinear Dynamics & Econometrics |d De Gruyter |g 8/3(2004-09-16) |q 8:3 |1 2004 |2 8 |o snde | ||
| 900 | 7 | |b CC0 |u http://creativecommons.org/publicdomain/zero/1.0 |2 nationallicence | |
| 986 | |a SWISSBIB |b 078572479 | ||
| 898 | |a BK010053 |b XK010053 |c XK010000 | ||
| 949 | |B NATIONALLICENCE |F NATIONALLICENCE |b NL-gruyter | ||