Levin, Andrew T.; Wieland, Volker; Williams, John C. - 2021
macroeconometric models: the Fuhrer-Moore model, Taylor's Multi-Country Model, the MSR model of Orphanides and Wieland, and the FRB … staff model. All four models incorporate the assumptions of rational expectations, short-run nominal inertia, and long … output-inflation volatility frontier of each model for alternative specifications of the interest rate rule, subject to an …