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In January 2000, the Federal Open Market Committee (FOMC) instituted the practice of issuing a “balance of risks” statement along with their policy decision immediately following each FOMC meeting. Robert H. Rasche and Daniel L. Thornton evaluate the use of the balance-of-risks statement and...
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The following are comments in response to Lars Svensson's "Targeting versus Instrument Rules for Monetary Policy: What Is Wrong with McCallum and Nelson?"
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