Lombardi, Marco J. (contributor); … - 2007
Following the 2000 stockmarket crash, have US interest rates been held "too low" in relation to their natural level … down the evolution of underlying stochastic processes in real time is found crucial (i) to explain postwar Fed.s policy and …? Most likely, yes. Using a structural neo-Keynesian model, this paper attempts a real-time evaluation of the US monetary …