Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory
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We estimate a forward-looking monetary policy reaction function for the postwar US economy, pre- and post-October 1979. Our results point to substantial differences in the estimated rule across periods. In particular, interest rate policy in the Volcker-Greenspan period appears to have been much
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美国国家经济研究局创建时间：
1998-03-01
