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Inflation Targeting, Committee Decision Making and Uncertainty: The case of the Bank of England's MPC
Holly, Sean; Bhattacharjee, Arnab - Society for Computational Economics - SCE - 2005
Policymaking at the Bank of England has provided detailed information on both the decisions of individual members of the Monetary Policy Committee. We consider this decision making process in the context of a model in which inflation forecast targeting is used but there is heterogeneity among...
Persistent link: https://www.econbiz.de/10005345075
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Habit formation and Interest-Rate Smoothing
Holly, Sean; Corrado, Luisa - Society for Computational Economics - SCE - 2004
Following a conjecture of Kozicki and Tinsley we generalises the habit formation model of consumption to allow for both … consumption. The geometric form of the aspiration function addresses the recent concerns of Wendner (2002) who shows that a … consumption violates some important assumptions of utility theory. The geometric form allows us to derive an optimising model of …
Persistent link: https://www.econbiz.de/10005345316
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Volatility and Policy Regimes: the UK joining the Euro
Holly, Sean; Corrado, Luisa - Society for Computational Economics - SCE - 2003
Persistent link: https://www.econbiz.de/10005706783
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The Channels of Monetary Policy: Evidence from Firm Level data in the US and the UK.
Chadha, Jagjit; Higson, Chris; Holly, Sean; Kattuman, Paul - Society for Computational Economics - SCE - 2002
Persistent link: https://www.econbiz.de/10005537669