Wieland, Volker; Levin, Andrew; Williams, John C. - Society for Computational Economics - SCE - 1999
a policy objective of minimizing a weighted sum of the unconditional variances of the inflation rate, the output gap … determine the performance of rules on the policy frontier -- the best obtainable outcomes for output, inflation, and funds … generally very close to the frontier in each of the other three. Thus, while small improvements in output and inflation …