Brock, William A.; Durlauf, Steven N.; Nason, James Michael - 2007
simple rules. As
argued by McCallum and Nelson (2005)
5
, the optimality of a rule with respect to a given
economic …, Durlauf, and Rondina (2007) show that the choice of a policy
rule yields a frequency by frequency variance tradeoff, we argue … not, for interesting cases, a deterministic function of a
policy and so are in general described by a conditional …