Monetary Policy Risk: Rules vs. Discretion
收藏NBER2021-07-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w28983
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资源简介：
Long-run asset-pricing restrictions in a macro term-structure model identify discretionary monetary policy separately from a policy rule. We find that policy discretion is an important contributor to aggregate risk. In addition, discretionary easing coincides with good news about the macroeconomy in
提供机构：
美国国家经济研究局
创建时间：
2021-07-01
