Estimated Interest Rate Rules: Do they Determine Determinacy Properties?
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Estimated Interest Rate Rules: Do they Determine Determinacy Properties? / Jensen, Henrik.
I: B.E. Journal of Macroeconomics, Bind 11, Nr. 1 (Contributions), Article 11, 2011, s. 1-20.Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt
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TY - JOUR
T1 - Estimated Interest Rate Rules: Do they Determine Determinacy Properties?
AU - Jensen, Henrik
PY - 2011
Y1 - 2011
N2 - I demonstrate that econometric estimations of nominal interest rate rules may tell little, if anything, about an economy's determinacy properties. In particular, correct inference about the interest-rate response to inflation provides no information about determinacy. Instead, it could reveal whether optimal monetary policymaking is performed under discretion or commitment.
AB - I demonstrate that econometric estimations of nominal interest rate rules may tell little, if anything, about an economy's determinacy properties. In particular, correct inference about the interest-rate response to inflation provides no information about determinacy. Instead, it could reveal whether optimal monetary policymaking is performed under discretion or commitment.
U2 - 10.2202/1935-1690.2246
DO - 10.2202/1935-1690.2246
M3 - Journal article
VL - 11
SP - 1
EP - 20
JO - B.E. Journal of Macroeconomics
JF - B.E. Journal of Macroeconomics
SN - 1935-1690
IS - 1 (Contributions), Article 11
ER -
ID: 33344881