Narrow search
Showing 1 - 7 of 7
Cover Image
Targeting vs. instrument rules for monetary policy
McCallum, Bennett T. (contributor);  … - 2004 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10002115955
Cover Image
Kalman filtering with truncated normal state variables for Bayesian estimation of macroeconomic models
Dueker, Michael (contributor) - 2005
"A pair of simple modifications to the Kalman filter recursions makes possible the filtering of models in which one or more state variables is truncated normal. Such recursions are broadly applicable to macroeconometric models that have one or more probit-type equation, such as vector...
Persistent link: https://www.econbiz.de/10003115151
Cover Image
Forecasting output with information from business cycle turning points : a qualitative variable VAR
Dueker, Michael (contributor);  … - 2001 - [Elektronische Ressource].
Persistent link: https://www.econbiz.de/10001965117
Cover Image
Stochastic capital depreciation and the comovement of hours and productivity
Dueker, Michael (contributor);  … - 2002 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001971164
Cover Image
Monetary and fiscal theories of the price level: the irreconcilable differences
McCallum, Bennett T.; Nelson, Edward - Federal Reserve Bank of St. Louis - 2006
The fiscal theory of the price level (FTPL) has attracted much attention but disagreement remains concerning its … appeared to provide a theory whose implications differ greatly from conventional monetary analysis; accordingly we review …
Persistent link: https://www.econbiz.de/10005360634
Cover Image
Targeting vs. instrument rules for monetary policy
McCallum, Bennett T.; Nelson, Edward - Federal Reserve Bank of St. Louis - 2004
Svensson (2003) argues strongly that specific targeting rules*first order optimality conditions for a specific objective function and model*are normatively superior to instrument rules for the conduct of monetary policy. That argument is based largely upon four main objections to the latter plus...
Persistent link: https://www.econbiz.de/10005352773
Cover Image
A monetary policy feedback rule in Korea's fast-growing economy
Dueker, Michael; Kim, Gyuhan - Federal Reserve Bank of St. Louis - 1998
In Korea's high-growth economy, the Bank of Korea had been willing to tolerate double-digit inflation, provided that it … upper threshold of tolerable inflation for the Bank of Korea was about 20 percent. It appears that the Bank of Korea …'s disciplined, rule-like approach to monetary policy was able to control inflation and keep it away from explosive levels, despite …
Persistent link: https://www.econbiz.de/10005352822