European Central Bank's (ECB) monetary policy. In order to obtain a time-varying measure of monetary policy uncertainty in both … the U.S. and Euroland, we estimate a Stochastic Volatility model using policy-adjusted short-term interest rates. We also …

The question of whether the Federal Reserve Board should use rules in the conduct of monetary policy is almost as old … as the Fed itself. For a brief time in the Fed's history it used a policy-making rule based on monetary aggregates, and … today many are suggesting that it use a rule based on the federal funds rate. Other countries have used policy-making rules …

private health insurance policy, including the elimination of Medicaid and mandated employer coverage for full time workers …

quotas, a second-best approach. This policy is flawed. Quotas are endogenous. If a merger allows firms to reduce output, the …

fiscal policies on real output. Previous studies had analyzed the impact of either monetary or fiscal policy on real output … periods. During the sample period from 1960:3 to 1971:1, anticipated and unanticipated fiscal policy along with unanticipated … monetary policy affected real output. In the second sample period only the fiscal policy variables had impact on real output …

Monetary economists seek improvements in monetary policy in order to enhance macroeconomic growth and stability. Public … policy discussions are often framed within a rules versus discretion context. Should policymakers be mandated to follow … explicit rules in forming policy or should they have complete discretion? Many economists favor rules to limit or end …