Orphanides, Athanasios; Wieland, Volker - Center for Financial Studies - 2008
question is whether such rules-of-thumb should draw on policymakers' forecasts of key variables such as inflation and …' forecasts of
key variables such as inflation and unemployment or on observed outcomes. Importantly,
deviations of the policy …: Monetary Policy, Forecasts, FOMC, Policy Rules
1 Introduction
William Poole has been a long-time proponent of rules …