DOLADO, J.J.; MARIA-DOLORES, R.; RUGE-MURCIA, Francisco J. - Département de Sciences Économiques, Université de … - 2003
consistent with the view that the Fed's inflation preferences during the Volcker-Greenspan regime differ considerably from the …This paper derives optimal monetary policy rules in setups where certainty equivalence does not hold because either … that US monetary policy can be characterized by a nonlinear policy rule after 1983, but not before 1979. This finding is …