specifications of monetary policy enhance social welfare. Regardless of the degree of home bias, a monetary policy rule that …. Notably, there are large gains from employing a domestic asset price rule when the home bias is large. A monetary policy rule …

Friedman k-percent monetary policy rule may be a valid instrument to counteract the instability created by the presence of HE …

results show that the term spread and policy inertia are both important determinants of the US estimated monetary policy rule …

Friedman k-percent monetary policy rule may be a valid instrument to counteract the instability created by the presence of HE …

and the term spread in the estimated US monetary policy rule. Second, we study the ability of the model to reproduce some … determinants in the estimated US monetary policy rule, (ii) the Fed responds to the information content of the spread about future …

Reserve System in the pre-Volcker era, often associated with a passive monetary policy rule, was closer to optimal than … policy rule ensures equilibrium determinacy and maximizes welfare. Consequently, we argue that the policy of the Federal … output (the slope of the IS curve) becomes positive - that is, "non-Keynesian." Remarkably, in that case, a passive monetary …